Latest news with #energyDemand
Yahoo
27-05-2025
- Business
- Yahoo
With PSC hearings pending, critics pan Georgia Power's plans to increase use of fossil fuels
The QTS data center complex under development in Fayetteville, Georgia, US, on Thursday, Oct. 17, 2024. QTS, the data-center developer that Blackstone bankrolls, complex is expected to consume as much electricity as about a million US households leaving utility Georgia Power rushing to build the infrastructure to meet demand. Photographer: Elijah Nouvelage/Bloomberg via Getty Images The Georgia Public Service Commission is set to hold a second round of hearings on Georgia Power's controversial long-range plans. The five-member utility regulator is set to vote July 15 as the state's largest utility expects to spend billions of dollars to meet skyrocketing energy demands attributed to new electricity-hogging data centers. Georgia Power's 2025 Integrated Resource Plan calls for renewable energy but also more fossil fuels. Georgia Power has come under fire after PSC hearings in April when the company disclosed it is considering building new methane gas units to generate up to 9,000 more megawatts of capacity by 2031. A number of environmental groups are calling on the utility to include a more diverse mix of clean, affordable energy solutions like solar power in its long-range plan instead of relying more heavily on fossil fuels. Georgia Power's plans include upgrading the nuclear units at Plant Hatch and Plant Vogtle and the oil and gas-fired units at Plant McIntosh. In addition, the company plans to upgrade nine hydroelectric dams throughout the state and build new transmission lines along more than 1,000 miles of power lines. Georgia Power's plans also include the addition of 1,100 MW of renewable energy from solar and battery storage. 'The 2025 IRP provides a comprehensive plan to support Georgia's continued economic growth and allow us to serve Georgians with clean, safe, reliable and affordable energy well into the future – we look forward to continuing the process through the hearings this week,' Georgia Power spokesman Matthew Kent said. Three days of hearings about the plan will begin Tuesday, following a proposed agreement reached between Georgia Power and the PSC to freeze base electric rates from 2026 to 2028. Some critics have argued that the proposed agreement is a political maneuver to protect Republican incumbent commissioners Fitz Johnson and Tim Echols. The PSC members are facing voters for the first time in years after a lawsuit delayed the usual six-year election cycle. Since 2023, the average Georgia Power residential ratepayer is paying $43 more per month due to rising base electric rates, higher natural gas costs and the completion of two nuclear reactors at Plant Vogtle. In April, the Environmental Protection Agency approved a two-year exemption at the request of Georgia Power's parent Southern Company allowing Plant Bowen and Plant Scherer to bypass federal emission regulations for mercury and other air pollutants. Georgia Power is requesting permission from the PSC to continue burning coal at Plant Scherer near Macon and Plant Bowen outside Cartersville well into the 2030s. Georgia Power planned to retire one of its Plant Scherer units by the end of 2028 and Plant Bowen's closure date is uncertain. Georgia Power is also planning to continue to use coal and gas at Alabama's Plant Gaston for energy generation. The commission staff filed a recommendation this month that the company should be allowed to satisfy its projected 2033 needs, which would be 5,226 MW instead of 5,989 MW. Georgia Power's resource plan will reinforce its energy demands while also adapting to the changing regulatory environment and supply chain requirements, according to the PSC staff recommendations. The increases will provide Georgia Power with greater flexibility and time to adapt, according to the PSC staff. Brionté McCorkle, executive director of Georgia Conservation Voters, argued that the driving reasons behind Georgia Power's fuel rate increase is the continued reliance on fossil fuels. Georgia Conservation Voters is one of several organizations challenging the power company's models for predicting the growth of massive data centers. According to the company's projections, data centers will consume 80% of all electricity, and all customers will benefit from these facilities that support the growing use of artificial intelligence. Critics contend that the company's projected demand is overstated and that existing ratepayers could be saddled with the cost of unnecessary electricity generating infrastructure. 'We've seen them double down on gas and coal and all of the costs from Plant Vogtle,' McCorkle said. 'All of those things have resulted in people's bills going up despite public comment for years that people want to see the power company investing in renewable energy and energy efficiency. These are measures that will not only promote clean energy, but also help save the money on their power bills.' Georgia Power company has been criticized by environmental groups for reversing its plans to close plants Bowen and Scherer, long among the worst polluters in the region. The company is instead seeking approval from state regulators to extend the life of the two plants and expand its fossil fuel energy capacity. Last year, Georgia regulators signed off on an amended 2022 Georgia Power plan allowing it to build new biomass power plants that will burn wood waste and other organic material to generate electricity. Jennifer Whitfield, an attorney with the Southern Environmental Law Center, said the Georgia Power 2025 plan is unusual since there is a large amount of projected demand that is not based on proven analysis. 'How good are their projections, and are they good enough to make big resource decisions right now?' Whitfield said. 'We think that they are not and expect that next week you're going to hear from a lot of people who say their load forecasts are way too high.' Whitfield gave credit for the Georgia Power proposal calling for significant investments in energy efficiency that can help ratepayers save money on their bills. 'I think there's going to be some exciting stuff in (the IRP), but the commission shouldn't take any action making radical decisions based on the data they have before them because the data is not good,' Whitfield said. Neil Sardana with the Georgia Conservation Voters Education Fund said the organization will present testimony this week for how Georgia Power can reduce emissions, accelerate coal plant retirement and increase clean energy such as solar, wind and battery storage in a way that could potentially save customers $10 billion by the year 2040. 'Georgia Power could be doing a lot better when it comes to planning and developing resources for energy production that not only improves our air quality emissions and also saves everyday customers tons of money,' Sardana said. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Associated Press
22-05-2025
- Business
- Associated Press
$1.48 Bn Perforating Gun Markets: Through Tubing Hollow Carrier & Exposed, Wireline Conveyed Casing, TCP - Global Forecast to 2030
DUBLIN--(BUSINESS WIRE)--May 22, 2025-- The 'Perforating Gun Market by Gun Type (Through Tubing Hollow Carrier & Exposed, Wireline Conveyed Casing, TCP), Well Type (Horizontal, Vertical), Depth (Up to 3,000 ft, 3,001-8,000 ft, above 8,000 ft), Pressure, Application, Region - Global Forecast to 2030" has been added to offering. The perforating gun market is poised to grow, projected to reach USD 1.48 billion by 2030 from an estimated USD 1.19 billion in 2025, reflecting a CAGR of 4.5% within the forecast period. Rising global energy demand, fueled by industrial growth, expanding transportation infrastructure, and increasing urbanization, is compelling oil and gas producers to enhance supply capacities. Onshore Segment Growth In applications, the onshore segment is expected to be the fastest growing within the perforating gun market during the forecast period. The market is bifurcated into offshore and onshore categories. Advances in perforating technologies have significantly improved operational efficiency and performance in onshore well completions. Enhanced reservoir targeting technology now allows operators to effectively reach reservoirs using WCP and TCP systems for perforating. Unconventional shale and tight oil onshore formations achieve optimal production by mitigating formation damage through these methods. Two recent advancements-wireless technology and electronic firing components in perforating systems-have bolstered operational flexibility by enabling remote activation and monitoring, thus diminishing dangers and cutting expenses in onshore processes. High-Pressure Well Demand When segmented by pressure, high-pressure wells are anticipated to capture the largest market share during the forecast period. These wells harbor substantial hydrocarbons under pressure, offering major production opportunities. Operators rely on high-performance perforating guns to access such reserves, ensuring precise perforation even under extreme conditions. Accurate reservoir perforation at high pressure minimizes geological damage and enhances penetration rates, optimizing initial production, improving reservoir drainage, and boosting long-term recovery. Asia Pacific Market Dynamics Asia Pacific is expected to become the second-fastest region in the perforating gun market from 2025-2030. The region's market growth is driven by governmental initiatives and supportive policy measures fostering upstream oil and gas activities. Policies like India's Hydrocarbon Exploration and Licensing Policy (HELP) and China's open acreage licensing policy are designed to enhance exploration and development, granting both local and international operators access to potential blocks, reducing entry barriers, fortifying investor confidence, and promoting petroleum operations. Key Attributes: Key Topics Covered: Market Dynamics Drivers Restraints Opportunities Challenges Trends/Disruptions Impacting Customer Business Supply Chain Analysis Ecosystem Analysis Technology Analysis Case Study Analysis Patent Analysis Key Conferences and Events, 2025-2026 Regulatory Landscape Impact of 2025 US Tariff - Overview Porter's Five Forces Analysis Company Profiles For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. View source version on CONTACT: Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 KEYWORD: INDUSTRY KEYWORD: OIL/GAS ENERGY SOURCE: Research and Markets Copyright Business Wire 2025. PUB: 05/22/2025 08:46 AM/DISC: 05/22/2025 08:46 AM
E&E News
21-05-2025
- Business
- E&E News
Electricity demand projected to rise 25% by 2030
The U.S. will have to double the pace of new electricity generation in order to meet a steep jump in energy demand, according to a new report from consulting firm ICF International. The new report projects that U.S. electricity demand will grow 25 percent between 2023 and 2030 and a shocking 78 percent by 2050, in large part thanks to a boom in data centers and manufacturing centers. That's an even bigger increase than ICF had forecast just two years ago and more than reports from the federal government just months ago — an indication, the authors say, of just how quickly demand is changing. In 2023, ICF said, national forecasts predicted 1.3 percent annual demand growth through the end of the decade. That figure is now 3.2 percent. Advertisement 'This is a pivotal moment as rising demand creates urgent challenges for the grid,' Anne Choate, ICF executive vice president for energy, environment and infrastructure, said in a statement. 'Meeting this demand will take a coordinated effort from across the energy sector on an 'all-of-the-above' strategy.'
Reuters
21-05-2025
- Business
- Reuters
WGC-Sinopec sees China gas demand peaking near 620 bcm between 2035 and 2040
BEIJING, May 21 (Reuters) - China's natural gas demand is expected to peak at about 620 billion cubic metres (bcm) between 2035 and 2040, Ma Yongsheng, chairman of state oil and gas major Sinopec Corp , said on Wednesday. Speaking at the World Gas Conference, Ma said the Asia-Pacific region had become the core engine of global gas demand growth. "In 2025, global liquefied natural gas (LNG) trade is expected to reach 440 million tons, with Asia accounting for about 60% of imports," he said. Ma warned, however, that while new global liquefaction capacity is estimated at about 420 million tons by 2030, the increase in LNG imports would make up less than half that, and the risk of oversupply would gradually become apparent. The LNG market also remained fragile, he said. "Regional gas markets face bottlenecks, such as supply chain disruptions due to geopolitical tensions, uneven infrastructure development, and increasing competition from renewable power generation," Ma added.
New York Times
16-05-2025
- Business
- New York Times
Data Centers' Hunger for Energy Could Raise All Electric Bills
Individuals and small business have been paying more for power in recent years, and their electricity rates may climb higher still. That's because the cost of the power plants, transmission lines and other equipment that utilities need to serve data centers, factories and other large users of electricity is likely to be spread to everybody who uses electricity, according to a new report. The report by Wood MacKenzie, an energy research firm, examined 20 large power users. In almost all of those cases, the firm found, the money that large energy users paid to electric utilities would not be enough to cover the cost of the equipment needed to serve them. The rest of the costs would be borne by other utility customers or the utility itself. The utilities 'either need to socialize the cost to other ratepayers or absorb that cost — essentially, their shareholders would take the hit,' said Ben Hertz-Shargel, who is the global head of grid edge research for Wood MacKenzie. This is not a theoretical dilemma for utilities and the state officials who oversee their operations and approve or reject their rates. Electricity demand is expected to grow substantially over the next several decades as technology companies build large data centers for their artificial intelligence businesses. Electricity demand in some parts of the United States is expected to increase as much as 15 percent over just the next four years after several decades of little or no growth. The rapid increase in data centers, which use electricity to power computer servers and keep them cool, has strained many utilities. Demand is also growing because of new factories and the greater use of electric cars and electric heating and cooling. In addition to investing to meet demand, utilities are spending billions of dollars to harden their systems against wildfires, hurricanes, heat waves, winter storms and other extreme weather. Natural disasters, many of which are linked to climate change, have made the United States' aging power grids more unreliable. That spending is one of the main reasons that electricity rates have been rising in recent years. American homes that use a typical 1,000 kilowatt-hours of electricity a month paid, on average, about $164 in February, according to the Energy Information Administration. That was up more than $30 from five years ago. Dominion Energy, a large investor-owned utility based in Richmond, Va., is one of those that Wood MacKenzie expects will spend more on new infrastructure than it will be able to recover from selling electricity to data centers and other large users. More data centers have opened in Virginia than in any other state. Asked about Wood MacKenzie's filings, Dominion said that on April 1 it filed a proposal to electricity regulators in Virginia for requiring large-load customers to pay their 'fair share' of utility costs. 'Ensuring a fair allocation of costs and mitigating financial risk are not new concepts to the company,' Edward H. Baine, president of Dominion Energy Virginia, said in testimony that Dominion submitted to state regulators and provided to The New York Times. 'Addressing both the needs and the risks associated with growth in high-load electric customers with high-load factors is both a public policy and a regulatory priority for Virginia.' A 2024 analysis by Virginia officials concluded that data centers paid the full cost of the service they received. But that report warned that the addition of many more large users of electricity could raise rates for all users if the state did not make policy changes to protect individuals and small businesses. Wood MacKenzie's report found that some states do have policies to protect individuals and small businesses from higher rates. Chief among them is Texas, where customers can pick a power source that is different from the utility that maintains the lines that deliver electricity to their homes. This arrangement, according to Wood MacKenzie, helps protect individuals from having to pay for grid upgrades that mainly or entirely benefit large users. Mr. Hertz-Shargel said many utilities also had programs that allowed large electricity users to buy emissions-free energy directly from power producers like solar and wind farms. Such programs, he said, could be refashioned to help ensure that the cost of new power projects is largely or entirely borne by the users responsible for major grid upgrades. The policies that states and utilities have put in place will significantly reduce risks of spreading the costs of improvements for the large-load customers, but 'they do not provide complete protection,' Mr. Hertz-Shargel said. 'Only by removing data-center-caused infrastructure from utilities books, such as by allowing large loads to contract with third parties for generation via clean transition tariffs, are both ratepayers and utility shareholders fully protected.'
