Short-Term Energy Outlook – Jan 2015
DOE’s Energy Information Administration (EIA) releases a monthly Short-Term Energy Outlook that contains price and consumption data on electricity, natural gas, and other commodities. This is the update for January (issued January 13). The next update will be released February 10.
EIA forecasts a warmer first quarter than last year, with a 12 percent decrease in heating degree days (HDD). For the full year, EIA forecasts a 6.4 percent HDD reduction.
Natural gas inventories on January 2 were 9 percent above last year’s levels and 2 percent below the five-year average. EIA forecasts that Henry Hub spot prices will average $3.52 per MMBtu this winter, compared with $4.51 last winter. For the full year, EIA expects a price of $3.44, rising to $3.86 next year, compared with $4.39 in 2014.
EIA forecasts steady industrial power prices, with industrial prices falling from 7.04 cents per kWh in 2014 to 6.95 in 2015 then rising to 11.05 in 2016. It forecasts an increase in commercial prices from 10.73 cents per kWh in 2014 to 10.84 in 2015 and 11.05 in 2016.
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