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Posted January 19, 2021 Today in Energy

EIA forecasts less power generation from natural gas as a result of rising fuel costs ›

In its latest Short-Term Energy Outlook (STEO), released on January 12, the U.S. Energy Information Administration (EIA) forecasts that generation from natural gas-fired power plants in the U.S. electric power sector will decline by about 8% in 2021. This decline would be the first annual decline in natural gas-fired generation since 2017. Forecast generation from coal-fired power plants will increase by 14% in 2021, after declining by 20% in 2020. EIA forecasts that generation from nonhydropower renewable energy sources, such as solar and wind, will grow by 18% in 2021—the fastest annual growth rate since 2010. More

annual U.S. electric power sector generation by energy source

Source: EIA, Short-Term Energy Outlook (STEO)

Data Highlights

Retail gasoline price

1/18/2021: $2.379/gal

up$0.062 from week earlier
down$0.158 from year earlier

Retail diesel price

1/18/2021: $2.696/gal

up$0.026 from week earlier
down$0.341 from year earlier

WTI crude oil futures price

1/15/2021: $52.36/barrel

up$0.12 from week earlier
down$6.16 from year earlier

Natural gas futures price

1/15/2021: $2.737/MMBtu

up$0.037 from week earlier
up$0.660 from year earlier

Weekly coal production

1/9/2021: 11.211 million tons

up1.365 million tons from week earlier
down1.562 million tons from year earlier