(BOE Report)– The Trump administration’s plans to cancel nearly $8 billion in Energy Department grants are illegal because contracts had already been signed and will cause consumer energy prices to skyrocket, the top Democrat on the U.S. Senate energy committee said. Earlier this month, the Energy Department canceled $7.56 billion in funding for clean energy projects that it claimed would
(Oil Price) – Just five years ago, no one could predict the surge in electricity demand that the United States is currently experiencing because of the proliferation of data centers as AI takes center stage in the tech industry. Many, however, predicted that nuclear is due for a renaissance—and it is getting it, in both conventional form and, in the future,
(Oil Price)– The International Energy Agency (IEA) has revealed that electricity consumption in the Middle East and North Africa (MENA) has tripled since 2000, making the region one with the fastest-growing power demand on the planet. According to the IEA, the explosive growth was mainly driven by expanding populations and rising incomes, with air conditioning accounting for nearly half of peak
(Oil Price) – Pacific Gas and Electric has unveiled a $73-billion spending program through 2030 to overhaul California’s grid as electricity demand from artificial intelligence and cloud infrastructure explodes, Reuters reported on Monday. The utility said the plan will support as much as 10 gigawatts of new load from data centers slated for development in its service territory over the next decade. Brent
(Oil Price) – U.S. electricity consumption is set to hit record-high levels this year and next, as demand from data centers and industrial customers soars, the U.S. Energy Information Administration (EIA) said in its latest Short-Term Energy Outlook (STEO). America’s power use will hit 4,187 billion kilowatt-hours (kWh) in 2025 and then rise to 4,305 billion kWh in 2026, the monthly report showed.
(BOE Report)– U.S. power generation capacity is evolving at the fastest pace in decades, as utilities scramble to ensure that supplies keep up with rapidly growing electricity demand from data centers, AI applications, businesses, homes and electric vehicles. To help frame expectations on what power sources will likely be in play over the coming years, the U.S. Energy Information Administration
(Investing) – U.S. power consumption will hit record highs in 2025 and 2026, the Energy Information Administration said in its short-term energy outlook (STEO) on Tuesday. The EIA projected power demand will rise to 4,186 billion kilowatt-hours (kWh) in 2025 and 4,284 billion kWh in 2026, up from a record 4,097 billion kWh in 2024. Those demand increases come in part
(Oil Price)– New York has become the first U.S. state to announce its commitment to fully electrifying all new buildings. Several U.S. states have stated aims to transition away from fossil fuels to green alternatives to support the battle against climate change; however, New York is the first state to make its electrification plans official. Meanwhile, one of America’s most
(Oil Price)– PJM Interconnection, the operator of the largest U.S. electric grid, has issued a maximum generation alert and load management alert for July 24 due to expected high peak load demand amid a heat wave. PJM Interconnection, whose area covers 13 mid-Atlantic and Midwest states and the District of Columbia, said that the alert does not require any action from
(Oil Price)– Demand for electricity from data centers handling AI technology drove the price of the largest electricity auction in the United States to a new record, exceeding last year’s all-time high by 22%. Organized by PJM Interconnection, the capacity auction covers 20% of American consumers and aims to ensure that there is enough generation to respond to spikes in
(Oil Price)– Google has signed a $3-billion agreement to source electricity for data centers from Brookfield Asset Management’s hydropower facilities, in the world’s largest corporate clean power deal for hydroelectricity, the asset manager said on Tuesday. The first contracts executed under the agreement to deliver up to 3 gigawatts (GW) of carbon-free hydroelectric capacity across the United States are for Brookfield’s
(Oil Price)– Power utilities in the United States have applied for permission to raise electricity prices, with a demand surge from AI data centers suggested as the reason, the Financial Times reported today, citing data from PowerLines, an energy affordability advocacy. In the first half of this year, U.S. power utilities applied for price hikes of a total $29 billion, the
