U.S. Energy Information Administration Experts Discuss Rising Winter Electricity Prices in NYISO Podcast
RENSSELAER, NY (01/11/2023) (readMedia)-- The New York Independent System Operator (NYISO) today released the latest episode of its award-winning Power Trends Podcast, with guests from the U.S. Department of Energy's (DOE) Energy Information Administration (EIA) discussing the connection between rising natural gas demand and increase in wholesale energy costs.
EIA collects, analyzes, and disseminates independent and impartial energy information to promote sound policymaking, efficient markets, and public understanding of energy and its interaction with the economy and the environment.
In this podcast episode, Dr. Tyler Hodge, Senior Economist in the Office of Energy Analysis, and Corrina Ricker, Certified Data Scientist on the Natural Gas Markets team, delve into findings published in the EIA's latest Short Term Energy Outlook, or STEO.
The two noted that New York electricity prices in 2023 are expected to increase up to 10% when compared to 2022. This is due to several national and international economic factors, including increased demand for natural gas following a warmer-than-average summer and entering what is expected to be a cooler-than-average winter. Other factors contributing to higher prices include increased U.S. exports of liquified natural gas supported by high international demand and the anticipated restart of the Freeport LNG facility.
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About the Power Trends Podcast
Since its launch in July of 2019, the Power Trends Podcast has amassed more than 21,000 engagements across various platforms and streaming services. Over the course of nearly two dozen episodes, podcast host Kevin Lanahan has welcomed some of the leading voices in the energy space including energy developers, academics, economists, and NYISO senior leadership. The series has also won PR Daily's award for "Best Branded Podcast" in 2021; and the 2022 Bulldog PR Award for "Best Thought Leadership Campaign."