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Week 4 Energy Video: Growing LNG Exports Push Power Prices Higher
1) FERC warns of much higher power prices this summer, driven largely by uptick in gas prices, which is in turn propelled by LNG exports - currently claiming 12% of U.S. production.
2) Germany, Denmark, the Netherlands and Belgium plan to develop a minimum of 65,000 MW of offshore wind by 2030 and 150,000 MW by 2050, with private sector investment at estimated $142 billion. Goal is to accelerate permitting, while expanding regional infrastructure and hydrogen industry.
3) Connecticut Governor Ned Lamont signs legislation committing state to fully decarbonizing grid by 2040. 2,100 MW Millstone Nuclear Plant currently supplies 90% of its carbon-free electricity, putting the state today at 65% carbon-free.
4) EV charging company Electrify America to buy 75 MW/225,000 annual MWh to offset the electricity delivered by US charging network, under a 15-year virtual power purchase agreement.
5) Battery co Natron Energy and technology firm, Clarios International undertake strategic investment to mass-produce sodium-ion batteries in existing Michigan lithium ion battery plant by 2023. Natron’s UL-certified batteries are used in critical applications like data centers and telecom, but may find way to grid applications as well. Sodium battery technology is less affected by cost and supply chain issues, but has not yet been widely commercialized. #batteries #offshorewind #energystorage #enegytransition #sustainability #theenergyswitch #LNG #EVs #evcharging
Week 4 Energy Video: Growing LNG Exports Push Power Prices Higher
The Federal Energy Regulatory Commission Summer Assessment notes dramatically higher electricity prices this summer in multiple markets, driven in part by LNG exports; Germany, Denmark, the Netherlands and Belgium sign agreement to develop at least 65,000 MW of offshore wind by 2030 and 150,000 MW by 2050; Connecticut Governor Lamont OKs bill committing state to 100% carbon-free grid by 2040; EV charging company Electrify America signs 15-year 75 MW virtual power purchase agreement to offset the electricity delivered by its U.S. charging network; Natron Energy and Clarios International team up to mass produce sodium-ion batteries in Michigan existing battery plant by 2023.
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