U.S. energy use to rise in 2022 as financial system retains rising

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© Reuters. FILE PHOTO: A pylon of high-tension electrical energy energy strains are pictured throughout sundown in Cordemais close to Nantes, France, January 20, 2022. REUTERS/Stephane Mahe

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(Reuters) – U.S. energy consumption was on monitor to rise to report highs in 2022 and 2023 because the financial system grows, the U.S. Power Data Administration (EIA) mentioned in its Brief Time period Power Outlook (STEO) on Tuesday. The EIA projected energy demand will climb to 4,010 billion kilowatt-hours (kWh) in 2022 and 4,019 billion kWh in 2023 from 3,930 billion kWh in 2021. That compares with an eight-year low of three,856 billion kWh in 2020, depressed by the pandemic, and an all-time excessive of 4,003 billion kWh in 2018. EIA projected 2022 energy gross sales would maintain at 1,477 billion kWh for residential customers, however rise to 1,363 billion kWh for business clients as extra folks return to work in workplaces and 1,026 billion kWh for industrials. That compares with all-time highs of 1,477 billion kWh in 2021 for residential customers, 1,382 billion kWh in 2018 for business clients and 1,064 billion kWh in 2000 for industrials. EIA mentioned ‘ share of energy era will maintain at 37% in 2022, the identical as 2021, then slide to 36% in 2023. Coal’s share will drop from 23% in 2021 to 21% in 2022 and 20% in 2023 as renewable output rises. The share of renewable era will rise from 20% in 2021 to 22% in 2022 and 24% in 2023. Nuclear energy will slide from 20% in 2021 to 19% in 2022 earlier than returning to twenty% in 2023.
The company projected 2022 pure gasoline gross sales would rise to 13.46 billion cubic toes per day (bcfd) for residential customers, 9.12 bcfd for business clients, 22.80 bcfd for industrials and 31.77 bcfd for energy era. That compares with all-time highs of 14.32 bcfd in 1996 for residential customers, 9.63 bcfd in 2019 for business clients, 23.80 bcfd in 1973 for industrials and 31.75 bcfd in2020 for energy era.

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