Exceptionally low gas prices have driven gas-fired generation to a record high in the United States, in the process eliminating most of the excess inventories inherited from the very mild winter of 2023/24.
U.S. electricity generators produced a record 2,069 billion kilowatt-hours (kWh) in the first six months of 2024, an increase of 98 billion kWh (5%) compared with the same period a year earlier.
Most of the extra electricity came from gas-fired units (+43 billion kWh), solar parks (+24 billion kWh) and wind farms (+19 billion kWh), with smaller contributions from nuclear (+10 billion kWh) and coal (+4 billion kWh).
Gas-fired units produced a record 857 billion kWh, and accounted for 41% of all generation, which was also a record high, according to data from the U.S. Energy Information Administration (EIA). […]
— Read More: www.zerohedge.com
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