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Tag: forecast

Official

How will the start-up timing of the new U.S. LNG export facilities affect our forecast?

U.S. exports of liquefied natural gas (LNG) represent the largest source of natural gas demand growth in our March 2025 Short-Term Energy Outlook (STEO), with LNG gross exports expected to increase by 19% to 14.2 billion cubic feet per day (Bcf/d) in 2025 and by 15% to 16.4 Bcf/d in 2026. The start-up timing of two new LNG export facilities—Plaquemines LNG Phase 2 (consisting of 18 midscale trains) and Golden Pass LNG—could significantly affect our forecast because these facilities represent 19% of incremental U.S. LNG export capacity in 2025–26.
StormPrep
Official

Mercer County, W.Va., Disaster Recovery Center closed Feb. 11 due to forecast inclement weather

Mercer County, W.Va., Disaster Recovery Center closed Feb. 11 due to forecast inclement weather Mercer County, W.Va., Disaster Recovery Center closed Feb. 11 due to forecast inclement weather CHARLESTON, W.Va.– Due to forecast inclement weather, the FEMA Mercer County Disaster Recovery Center (DRC) in Princeton will be closed on Tuesday, Feb. 11, 2025.  The DRC is scheduled to reopen on Wednesday, Feb. 12, 2025. Additional changes based on weather conditions may occur. Please check FEMA’s DRC locator at fema.gov/drc for up-to-date information.  The center is located at:  Disaster Recovery Center Lifeline Princeton Church of God 250 Oakvale Road  Princeton, WV
StormPrep
Official

Forecast wholesale power prices and retail electricity prices rise modestly in 2025

In our January Short-Term Energy Outlook (STEO), we expect that U.S. wholesale power prices will average slightly higher in 2025 in most U.S. regions than last year, except in Texas and in the Northwest. We forecast that the 11 wholesale prices we track in STEO will average $40 per megawatthour (MWh) in 2025 (weighted by demand), up 7% from 2024. We expect the 2025 average U.S. residential electricity price will be 2% higher than the 2024 average, though after accounting for inflation, our forecast for U.S. residential prices remains relatively unchanged from 2024.
StormPrep
Official

A look back at our forecast for global crude oil prices in 2024

Benchmark Brent crude oil prices averaged $81 per barrel (b) in 2024, in line with the $82/b for the year that we had forecast in our January 2024 Short-Term Energy Outlook (STEO) and more in-depth analysis. In the January 2024 STEO, we forecast that markets would be relatively balanced in 2024, changing little from the 2023 average Brent price of $82/b. On an annual basis, our forecast for balanced markets was relatively accurate, as global inventories showed only a slight drawdown of 0.18 million barrels per day in 2024.
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