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The U.S. Might Need To Increase Electricity Generation By 480%


1. Brussels Investigates Traders’ Gas Profit-Making

- According to media reports, the European Central Bank is investigating the use of derivatives by European energy companies to generate huge profits on soaring power and fuel prices.

- German utility company Uniper came under closer scrutiny after it reported a $14 billion loss in H1 2022, setting the stage for its $40 billion markdown in Jan-Sep, the worst result for any German company on record.

- Brussels argues that strict rules applying to banks should be extended to trading firms, especially since market analysts and rating agencies lack oversight over their derivative trades.

- Margin call pressure has subsided in Europe recently as gas prices continue their downward movement, trading around €115/MWh ($36/mmBtu) recently.

2. US Might Need Five Times as Much Power

- If the United States is to reach its 2050 decarbonization goals, the US economy might need to increase its electricity generation capacity by as much as 480% to comply with the Paris Accords.

- According to a study released by the Electric Power Research Institute, firm capacity should increase by 300-400 GW from today’s level of 850 GW and intermittent wind and solar capacity should at least quadruple from the current 200 GW.

- The share of fossil fuels in US electricity generation currently stands at 61%, with natural gas accounting for almost 40% of the national tally, although if carbon storage…

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