Louisville, KY (PRWEB) July 03, 2013
Power demand started strong this year but, since the start of May, Genscape’s proprietary energy monitoring technology has shown weaker demand compared to the same months in 2012. A weaker May and June have pushed year-to-date power demand back to within 0.11% of 2012.
The strongest above average temperature anomalies shifted from the Plains (June 2012) to the Southwest (June 2013). The Midwest was generally cooler year-over-year, driving weaker cooling load this June.
Month-over-month average daily power demand increased 15% as summer temperatures began to creep in. The majority of the demand increase was met by a 22% increase in average daily natural gas consumption on a MWh basis and a 19% increase in coal-fired generation. Renewable generation was down for the second month in a row at – 4%. The major driver of this decrease in renewable generation was stronger coal and gas consumption in the west, which helped offset the natural depletion of the hydro supply from the spring melt. Genscape’s monitored hydro generation in the Northwest was down -6% month-over-month and -14% year-over-year.
Year-to-date, coal continues to lead the way, accounting for 39% of the national supply stack. In June, gas gained some ground averaging 30% of supply, but for the year it still trails averaging 27%. A year ago coal accounted for 35% of supply with gas making up 30%. Prompt-month natural gas prices closed Friday at $3.57/MMBtu. At this level, Genscape estimates only delivered coal to the Southeast remains out of the money at $4.45/MMBtu to $4.51/MMBtu.
Genscape’s Generation Fuel Monitor Report offers daily views of fuel consumption at US power plants for all power sector fuels: coal, gas, hydro, wind, nuclear and oil. Learn more or register for a free trial here: http://info.genscape.com/fuelmonitor-press.
Genscape is the leading global provider of energy information for commodity and financial markets. Utilizing patented technologies and proprietary algorithms, Genscape provides accurate & timely data on capacities, flow and utilization for all major energy commodities. With thousands of sophisticated energy monitors strategically deployed all over the world, Genscape is unique in its ability to measure and collect energy market fundamentals. These “measured actuals” are then transmitted to clients in real-time or near real-time. Genscape clients often gain first-mover advantage and increased market transparency to better optimize their positions. For more information, please visit: http://www.genscape.com
For all press inquiries please contact:
Office: +1 617 790 0903