U.S. power consumption will rise to record highs in 2024 and 2025, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) Tuesday.
U.S. power consumption will rise to record highs in 2024 and 2025, the U.S. Energy Information Administration said in its Short Term Energy Outlook Tuesday.
EIA said natural gas' share of power generation would hold at 42% in 2024, the same as 2023, before easing to 41% in 2025. Coal's share will drop from 17% in 2023 to 16% in 2024 and 14% in 2025 as renewable output rises. EIA projects gas will be cheaper per million British thermal units than coal in 2024 for the first time ever, according to federal energy data going back to 2001.
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