U.S. power use to rise in 2022 as economy continues to grow -EIA

div classBodysc17zpet90 cdBBJodivpReuters – U.S. power consumption will rise in 2022 and 2023 as the economy grows, the U.S. Energy Information Administration EIA said in its Short Term Energy Outlook STEO on Tuesday.

The EIA projected power demand will climb to 3,995 billion kilowatthours kWh in 2022 and 4,040 billion kWh in 2023 from 3,930 billion kWh in 2021.pdivdivdiv classBodysc17zpet90 cdBBJodiv

That compares with a coronavirusdepressed eightyear low of 3,856 billion kWh in 2020 and an alltime high of 4,003 billion kWh in 2018.

EIA projected 2022 power sales would ease to 1,468 billion kWh for residential consumers, but rise to 1,358 billion kWh for commercial customers as more people return to work in offices and 1,022 billion kWh for industrials.

That compares with current alltime highs of 1,477 billion kWh in 2021 for residential consumers, 1,382 billion kWh in 2018 for commercial customers and 1,064 billion kWh in 2000 for industrials.

EIA said natural gas‘ share of power generation will slide from 37 in 2021 to 35 in 2022 and 2023 as gas prices rise. Coal’s share, meanwhile, will hold at 23 in 2022, the same as 2021, before sliding to 21 in 2023 as renewable output rises.

The percentage of renewable generation will rise from 20 in 2021 to 22 in 2022 and 23 in 2023. Nuclear power will hold at 20 in 2022 and 2023, the same as 2021.

The agency projected 2022 natural gas sales would rise to 13.55 billion cubic feet per day bcfd for residential consumers, 9.35 bcfd for commercial customers and 23.16 bcfd for industrials, but fall to 29.89 bcfd for power generation.

That compares with alltime highs of 14.32 bcfd in 1996 for residential consumers, 9.63 bcfd in 2019 for commercial customers, 23.80 bcfd in 1973 for industrials and 31.75 bcfd in2020 for power generation.

Reporting by Scott DiSavino Editing by Aurora Ellis

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