U.S. Power Use, Winter Power Challenges: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

POWER
U.S. Power Use to Slide in 2023 - U.S. power consumption will ease in 2023 from last year's record high as forecast milder weather depresses demand for heating and cooling, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook on Tuesday. The EIA projected power demand will slide from a record 4,070 billion kilowatt-hours (kWh) in 2022 to 4,022 billion kWh in 2023, before rising to 4,116 billion kWh in 2024 as economic growth ramps up. (Reuters)

NERC: North America Faces Winter Power Challenges - Large parts of the U.S. and Canada power grid serving around 180 million people could be left without enough electricity during extreme cold this winter, a group that sets North American electric reliability standards said on Wednesday. In its winter outlook, the North American Electric Reliability Corporation (NERC) put the U.S. Midwest, Northeast and Southern regions, along with several Canadian provinces, at the "greatest risk for electricity supply shortfalls this winter." NERC warned that prolonged, wide-area cold snaps threaten the reliability of bulk power generation and availability of fuel supplies for natural-gas-fired generation. "Recent extreme cold weather events have shown that energy delivery disruptions can have devastating consequences for electric and gas consumers in impacted areas," NERC said. (Reuters)

CRUDE OIL
Oil Settles at Three-Month Low - Oil prices slid more than 2% on Wednesday to their lowest in more than three months on concerns over waning demand in the U.S. and China. Brent crude futures settled down $2.07, or 2.5%, to $79.54 a barrel. U.S. crude lost $2.04, or 2.6%, to $75.33. Both benchmarks hit their lowest since mid-July. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).