US utility Xcel claims tariff exposure is 2% to 3% of capex plan
Executives with the company stated on Thursday that a global trade war is likely to affect renewable energy supply chains and storage systems, exposing 2%-3% of Xcel Energy’s $45 billion plan for capital expenditures. The expansion of AI data centres and the electrification in industries such as transportation are driving U.S. electricity consumption to record highs. Power companies have increased capital expenditure plans this year to build infrastructure. The tariffs imposed by President Donald Trump and the reciprocal tariffs of countries such as China have threatened to increase these building costs…
NextEra exceeds profit expectations as the power company avoids trade risks
NextEra Energy's CEO stated that the company beat Wall Street expectations on Wednesday regarding rising electricity demand, as it works to navigate around increasing global trade risks. The rising costs brought on by President Donald Trump’s tariff war threaten to slow down a recent surge of electricity demand, and dent plans for expansion by the country’s power companies. NextEra, one of the largest renewable energy firms in the world, has said that it reduced its trade risk by $150 million, on $75 billion of capital expenditures. This is less than 0.2%.
IMF: AI's economic benefits will likely outweigh its emissions costs
The International Monetary Fund (IMF) said that the benefits of artificial intelligence would boost global production by 0.5% per year between 2025-2030, and outweigh the rising costs associated with the carbon emissions from the data centres required to run AI models. The IMF released a report at its annual spring meetings in Washington that noted the fact that these output gains were not shared equally around the globe. It called on governments and businesses to minimize costs to society.
Wood Mackenzie reduces 5-year US Wind Energy Outlook by 40% due to Trump policies
On Tuesday, a prominent energy research company slashed their five-year forecast for new U.S. Wind Energy Projects by 40%, citing Trump Administration policies and concerns over the economy. Wood Mackenzie predicts that the United States will install 45.1 gigawatts (both onshore and off-shore) of wind power through 2029. The firm had initially forecast 75.8 GW of installations over this period. The Energy Information Administration announced last month that the U.S. electricity consumption will reach record levels in 2025 and beyond.
Ember reports that renewables will provide 32% of the global electricity by 2024.
A report from the energy think-tank Ember on Tuesday revealed that renewable power generated a record 32% global electricity in 2017. The overall electricity demand increased 4%, driven by heatwaves, data centres, and other factors. Euan Graham, Ember's electricity and data analyst, said that energy security concerns, which are exacerbated by the trade war caused by President Donald Trump’s tariffs on imports from the United States, could increase demand for renewable energy this year. Tariffs sent energy and equity markets plummeting, and raised concerns about a possible global recession.
Energy think tank says fossil fuels generated less than half the US electricity in first ever month.
According to Ember, an energy think tank, fossil fuels made up less than half of the U.S. electricity mix in March for the first time in history. This was due to a nearly quarter increase in wind and solar generation. The U.S. The Energy Information Administration (EIA), citing the growing demand for data centers dedicated exclusively to artificial intelligence, forecasted last month that in 2025 or 2026, electricity consumption would increase by nearly 3% from its all-time peak of 2024. The power consumption of data centers will increase.
China's energy administration reports that China's power consumption in January-February was up 1.3% compared to the previous year.
The National Energy Administration (NEA), which released data on Tuesday, showed that China's electricity consumption increased by a sluggish 1,3% during the first two month of the year due to an unseasonably mild winter. However, the growth rate rose to 9% in late February. According to NEA data, February's power consumption was 743.7 kWh and for the entire two-month period it was 1.56 trillion kWh. China's National Bureau of Statistics reported on Monday that China's electricity generation had fallen 1.3% in the first two month of the year.
CERAWEEK - Small nuclear power struggles on the cusp of US electric demand boom
Small modular nuclear reactors are touted by everyone from the U.S. Energy Secretary to Big Tech as the answer to the booming demand for power. However, the technology has struggled to reach commercialization due to cost and regulatory obstacles. The artificial intelligence industry, which is powered by energy-hungry data centres, will likely increase electricity consumption in the United States. Small modular reactors supporters say that the technology would eventually be cheaper, faster…
EIA predicts that US crude and gas production will reach record levels in 2025
The U.S. Energy Information Administration's (EIA) Short Term Energy Outlook report (STEO), released on Tuesday, said that the U.S. production of crude oil, natural gas, and electricity will all reach record levels in 2025. The agency expects that crude oil production will average 13,61 million barrels a day (bpd), in 2025, and 13,76 million bpd by 2026. This is up from the 13.22 million bpd of 2024. The report also predicted that domestic consumption of petroleum and liquid fuels would increase to 20.5 millions bpd by 2025, and 20.6million bpd by 2026 from 20.3million bpd.
Evergy's pipeline for power users such as data centers has jumped to 11,2 GW
Evergy Inc.'s pipeline of very large electricity clients, such as data centers, has increased to 11,2 gigawatts, which is more than its current maximum total demand. Evergy, a Midwestern company that covers Missouri and Kansas in the United States, has announced an increase of 8% on its capital spending plan for 2025-2029, to $17.5 billion. The demand for cloud computing and artificial intelligence has pushed up U.S. electricity consumption after a two-decade hiatus. This year, the country is expected to hit record levels.
Industry body: China's solar growth to slow for the first time in six years
According to a forecast by an industry association on Thursday, China's rapid expansion in solar is expected to slow down this year for first time since 2019. The industry's growth will moderate. According to Wang Bohua (Honorary Chairman of the China Photovoltaic Industry Association), new solar capacity in 2025 will range between 215 gigawatts in a conservative scenario and 255 GW with a more optimistic outlook. This would represent a 8% to 23% decrease from the 277.57 GW record installations last year.
IEA: Global electricity demand will grow by 4% until 2027
The IEA released a report Friday that predicted the global electricity demand to increase by 4% – or more than Japan's total annual consumption – each year until 2027. However, the expansion of energy sources with low emissions should help counteract this trend. The IEA said that the 85% growth in global demand is expected to come from emerging and developing economies. China will account for more than half the growth with a 6% annual growth rate. China's power demand has grown faster than its economy since 2020…
NiSource increases its earnings forecast for 2025 on the basis of higher power demand
NiSource, a U.S. electric utility and gas company, raised its earnings forecasts for 2025 on Wednesday and beat the fourth-quarter profit expectations. According to the U.S. Energy Information Administration, power companies will benefit from rising electricity consumption - which is expected to reach new records in 2025 - due to energy-hungry data centers that are needed to scale up Big Tech's AI ambitions. Electric utilities in the United States have been trying to increase customer bills due to extreme weather and rising demand.
WEC Energy's quarterly profit increases as it expands its data center services
WEC Energy Group announced on Tuesday a profit that more than doubled during the fourth quarter. The electric utility benefited from lower operating costs and higher revenues as it expanded its service to Microsoft data centers. U.S. energy companies, like Milwaukee's WEC Energy, are embracing the rise in demand for electricity due to the proliferation of AI data centres and the electrification or buildings and industries. WEC plans to provide electricity for a campus of 3.3 billion dollars in data centers being built by Microsoft in southeast Wisconsin.
EIA: US power consumption will reach new highs by 2025 and 26.
The Short Term Energy Outlook, published by the Energy Information Administration on Tuesday, predicted that U.S. electricity consumption would reach record levels in 2025 and in 2026. EIA projects that the demand for electricity will increase to 4,175 billions kWh by 2025, and 4,252 trillions kWh by 2026. This is a significant increase from the 4,089 billions kilowatt hours (kWh) recorded in 2024. EIA predicts that by 2025, residential customers will consume 1,519 billion kWh of electricity. Commercial customers will consume 1,457 trillion kWh and industrial customers 1,056 trillion kWh.
Are price movements a result of structural shifts? China's commodity imports are bifurcated: Russell
China's imports in 2024 of major commodities were a mixed bag. Iron ore, coal, and natural gas volumes reached record levels, while crude oil was weak. Raw data from the largest buyer of natural resource in the world suggests that some parts of the economy perform well, while others are struggling or are undergoing structural changes. The main challenge when analysing China's imports of commodities is to separate temporary factors from those that are part a longer-term trend. Crude oil may be the best example. Customs data published on Monday showed that imports in 2024 will be 553.42 millions metric tons.
DOE-backed report: U.S. data centers' power consumption could triple by 2028
According to a Department of Energy report, the U.S. power consumption for data centers could triple within three years and account for 12% of all electricity consumed in the United States. The Lawrence Berkeley National Laboratory's report is due to be released this Friday. It comes as the U.S. government and power industry are trying to figure out how the sudden increase in data center demand by Big Tech will impact electrical grids, electricity bills, and climate change. According to a Berkeley Lab report…
Denmark Issues Offshore Wind Permit
The Danish Energy Agency has granted a construction permit for 240-megawatt (MW) Jammerland Bugt offshore wind farm, which is expected to start operating in 2029, developer European Energy said on Tuesday.The project is located in the Bay of Jammerland, on the western side of the island of Zealand.The offshore wind farm is expected to produce power equating the electricity consumption of around 240,000 European households per year, the developer said.The company did not provide any details on the cost of the project…
AEP considers additional asset sales to fund capital expenditure plan boost
American Electric Power executives announced on Wednesday that they are considering asset sales in order to fund their five-year capital expenditure plan of $54 billion, a 25% increase from the previous plan. AEP also considers cutting layers of management as well as various equity strategies in order to reduce costs and raise funds to fund its build out plan, which includes $10 Billion in transmission construction for new power demands from data centers and large customers. Bill Furman, CEO of AEP…
Egypt to bid for LNG cargoes up to 20 to meet Q1 2025 Demand
Three trading sources said on Monday that Egypt will issue an tender to procure up to 20 LNG cargoes to meet the demand in the first quarter 2025. The largest Arab country, which has the most people in it, is now a net gas importer. It has bought more than 50 cargoes this year. Plans to be a reliable gas supplier to Europe have been abandoned. Sources said that the Egyptian General Petroleum Corporation is expected to announce the tender for the purchase of between 15 and twenty cargoes LNG.
