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Released June 07, 2024 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
POWER
Operator: New York Faces Power Shortfalls as New Energy Supply Lags - New York's electric grid will face supply shortfalls if the rate of retiring old fossil fired power plants continues to quickly outpace the addition of clean new energy supply at the same time demand rises, the state's grid operator said on Thursday. New York has set a goal for 100% clean energy on its grid by 2040 to reduce carbon emissions and slow the progress of climate change. In the five years since New York set its clean energy targets, the state lost 5,207 megawatts (MW) of fossil-fired power supply versus gaining 2,256 MW of clean energy sources like wind and solar, the New York Independent System Operator said in its annual reliability report.
California Set to Crank Up Gas-Fired Power - Scorching temperature forecasts for the western U.S. over the coming days look set to kickstart the high season for natural gas use in the California power system, when the fossil fuel is used to feed demand from power-hungry air conditioners. July and August are historically the top months for gas-fired power generation in the California Independent System Operator (CAISO) power network, as temperatures typically peak around those months and spur higher energy demand for cooling. But forecasts for temperatures above 100 degrees Fahrenheit this week look set to result in earlier-than-usual cranking of air conditioner units this year, and sharply higher gas-fired output to sustain power supply needs. During the June through August period, total CAISO power demand can be roughly 25% to 30% greater than the previous and following three-month windows, CAISO load data shows, largely due to higher demand for cooling. Between 2021 and 2023, CAISO operators boosted gas-fired power output by an average of 72% during the June to August window from the average levels of the preceding three months. (Reuters)
LNG
Freeport LNG to Sue Contractors Over Plant Defects - U.S. liquefied natural gas (LNG) exporter Freeport LNG (Houston, Texas) filed a lawsuit in April against three contractors, alleging that installation defects in electric motors at its $14 billion Texas export plant caused prolonged outages and costly repairs. The lawsuit, filed in a Texas district court, alleges that work done by contractors Zachry Industrial (San Antonio, Texas), Chiyoda International (Yokohama, Japan), and CB&I, a unit of McDermott International (Houston, Texas), resulted in major damage to key equipment. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the plant profile. (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
Operator: New York Faces Power Shortfalls as New Energy Supply Lags - New York's electric grid will face supply shortfalls if the rate of retiring old fossil fired power plants continues to quickly outpace the addition of clean new energy supply at the same time demand rises, the state's grid operator said on Thursday. New York has set a goal for 100% clean energy on its grid by 2040 to reduce carbon emissions and slow the progress of climate change. In the five years since New York set its clean energy targets, the state lost 5,207 megawatts (MW) of fossil-fired power supply versus gaining 2,256 MW of clean energy sources like wind and solar, the New York Independent System Operator said in its annual reliability report.
California Set to Crank Up Gas-Fired Power - Scorching temperature forecasts for the western U.S. over the coming days look set to kickstart the high season for natural gas use in the California power system, when the fossil fuel is used to feed demand from power-hungry air conditioners. July and August are historically the top months for gas-fired power generation in the California Independent System Operator (CAISO) power network, as temperatures typically peak around those months and spur higher energy demand for cooling. But forecasts for temperatures above 100 degrees Fahrenheit this week look set to result in earlier-than-usual cranking of air conditioner units this year, and sharply higher gas-fired output to sustain power supply needs. During the June through August period, total CAISO power demand can be roughly 25% to 30% greater than the previous and following three-month windows, CAISO load data shows, largely due to higher demand for cooling. Between 2021 and 2023, CAISO operators boosted gas-fired power output by an average of 72% during the June to August window from the average levels of the preceding three months. (Reuters)
LNG
Freeport LNG to Sue Contractors Over Plant Defects - U.S. liquefied natural gas (LNG) exporter Freeport LNG (Houston, Texas) filed a lawsuit in April against three contractors, alleging that installation defects in electric motors at its $14 billion Texas export plant caused prolonged outages and costly repairs. The lawsuit, filed in a Texas district court, alleges that work done by contractors Zachry Industrial (San Antonio, Texas), Chiyoda International (Yokohama, Japan), and CB&I, a unit of McDermott International (Houston, Texas), resulted in major damage to key equipment. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the plant profile. (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).
