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Plant(s): View 2 related plants in PECWeb
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Energy Market highlights gathered by Industrial Info and IIR Energy
POWER
EIA: U.S. Power Use to Decline in 2023 - U.S. power consumption will ease in 2023 from last year's record high as slower economic growth and milder weather depress usage, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook on Tuesday. The EIA projected that U.S. power demand will slide from a record 4,048 billion kilowatt-hours (kWh) in 2022 to 3,984 billion kWh in 2023, before rising to 4,068 billion kWh in 2024 as economic growth ramps up. (Reuters)
CORPORATE
Dominion Sells Cove Plant LNG Stake to Berkshire Hathaway - Dominion Energy Incorporated (NYSE:D) (Richmond, Virginia) agreed to sell its 50% stake in the Cove Point liquefied natural gas facility in Maryland's Chesapeake Bay to a unit of Berkshire Hathaway (NYSE:BRK.A) for $3.3 billion in cash, the companies said on Monday. Berkshire Hathaway Energy already operates the facility and would upon closing have a 75% ownership stake. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the plant profile. (Reuters)
PIPELINES
Equitrans Weighs Options as Court Blocks Mountain Valley Pipeline Construction - Equitrans Midstream (NYSE:ETRN) (Pittsburgh, Pennsylvania) said on Tuesday it is evaluating all legal options, including an emergency appeal at the U.S. Supreme Court, after an appellate court halted construction of the West Virginia-Virginia Mountain Valley natural gas pipeline in the Jefferson National Forest. The U.S. Court of Appeals for the Fourth Circuit on Monday accepted arguments from groups opposed to the project that construction should stop as the court reviews federal approvals that allowed work to begin. "Unless this decision is promptly reversed, it would jeopardize Mountain Valley's ability to complete construction by year-end 2023," the company said in a statement. Subscribers to Industrial Info's Pipelines Project Database can click here for related reports. (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).
POWER
EIA: U.S. Power Use to Decline in 2023 - U.S. power consumption will ease in 2023 from last year's record high as slower economic growth and milder weather depress usage, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook on Tuesday. The EIA projected that U.S. power demand will slide from a record 4,048 billion kilowatt-hours (kWh) in 2022 to 3,984 billion kWh in 2023, before rising to 4,068 billion kWh in 2024 as economic growth ramps up. (Reuters)
CORPORATE
Dominion Sells Cove Plant LNG Stake to Berkshire Hathaway - Dominion Energy Incorporated (NYSE:D) (Richmond, Virginia) agreed to sell its 50% stake in the Cove Point liquefied natural gas facility in Maryland's Chesapeake Bay to a unit of Berkshire Hathaway (NYSE:BRK.A) for $3.3 billion in cash, the companies said on Monday. Berkshire Hathaway Energy already operates the facility and would upon closing have a 75% ownership stake. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the plant profile. (Reuters)
PIPELINES
Equitrans Weighs Options as Court Blocks Mountain Valley Pipeline Construction - Equitrans Midstream (NYSE:ETRN) (Pittsburgh, Pennsylvania) said on Tuesday it is evaluating all legal options, including an emergency appeal at the U.S. Supreme Court, after an appellate court halted construction of the West Virginia-Virginia Mountain Valley natural gas pipeline in the Jefferson National Forest. The U.S. Court of Appeals for the Fourth Circuit on Monday accepted arguments from groups opposed to the project that construction should stop as the court reviews federal approvals that allowed work to begin. "Unless this decision is promptly reversed, it would jeopardize Mountain Valley's ability to complete construction by year-end 2023," the company said in a statement. Subscribers to Industrial Info's Pipelines Project Database can click here for related reports. (Reuters)
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).
