Low-Income Households Pay More for Energy, but Efficiency Can Help

With bans on utility shutoffs during the COVID-19 pandemic expiring, action is needed to ease the energy burdens of at-risk communities. Pay the electric bill or the mortgage? Run the air conditioner or refill that prescription? Turn up the heat – or eat? For too many Americans, these are critical dilemmas. Our research shows that even before […]

Crude oil prices increased in 2021 as global crude oil demand outpaced supply

Crude oil prices increased in 2021 as increasing COVID-19 vaccination rates, loosening pandemic-related restrictions, and a growing economy resulted in global petroleum demand rising faster than petroleum supply. The spot price of Brent crude oil, a global benchmark, started the year at $50 per barrel (b) and increased to a high of $86/b in late […]

Retail gasoline prices rose across the United States in 2021 as driving increased

Rising crude oil prices and increased gasoline demand contributed to the average U.S. retail price for regular grade gasoline increasing to $3.01 per gallon (gal) in 2021, the highest average nominal price since 2014. The average price for retail gasoline increased by more than $1.00/gal between the start and the end of 2021. The average […]

U.S. natural gas prices spiked in February 2021, then generally increased through October

The wholesale spot price for natural gas at the Henry Hub in Louisiana (the U.S. benchmark for natural gas prices) averaged $3.89 per million British thermal units (MMBtu) in 2021, almost doubling from the 2020 average, according to data from Refinitiv. U.S. natural gas prices briefly spiked in February during a winter storm that strained natural […]

Solar power will account for nearly half of new U.S. electric generating capacity in 2022

In 2022, we expect 46.1 gigawatts (GW) of new utility-scale electric generating capacity to be added to the U.S. power grid, according to our Preliminary Monthly Electric Generator Inventory. Almost half of the planned 2022 capacity additions are solar, followed by natural gas at 21% and wind at 17%. Developers and power plant owners report planned […]