Latest news with #electricity
Zawya
4 hours ago
- Business
- Zawya
Egypt sets $56mln for power expansion
Egypt has boosted investment in power expansion projects by nearly 20 percent to around 2.8 billion Egyptian pounds ($55 million) during the 2025-2026 fiscal year. The Electricity and Renewable Energy Ministry has allocated the funds for the state-owned South Cairo Electricity Distribution Company (SCEDC). The investments are nearly 20 percent higher than those approved during the 2024-2025 fiscal year and are intended to develop and upgrade networks managed by SCEDC in the capital and other parts of Egypt, the Arabic language daily Addustour said, quoting a Ministry source. 'The projects will be funded through the Company's own resources and they are part of expansion plans to be executed by the Ministry during the coming fiscal year,' it said. The paper noted that SCEDC is one of Egypt's largest public power distribution companies, covering nearly 15 percent of the country's area. Its subscribers increased by nearly 295,000 to reach 6.7 million at the end of 2024. (1 US Dollar = 50.67 Egyptian Pounds) (Writing by Nadim Kawach; Editing by Anoop Menon) (
Yahoo
4 hours ago
- Business
- Yahoo
The Permian Basin is Fueling America's Electric Future
The growth in US power demand is surging to its highest rate in decades, driven first by the electrification of oil and gas production and then by the build out of data centers. While still below the 5-10% growth seen in China, the world's first 'electrostate," the US power sector is experiencing rapid structural growth. The country is delivering more than a 3.5% annual power demand growth rate for the first time in several decades, potentially positioning the US as the world's next 'electrostate,' despite the strong oil and gas focus of the Trump administration. Nationwide electricity consumption increased by around 200 terawatt-hours (TWh) in the last 10 years, with data centers already accounting for about 50% of the growth. Our updated assessment suggests that in the next decade, growth is likely to be four times faster, with more than 800 TWh of consumption added between 2024 and 2034. We expect the commercial sector – largely data centers – to drive ~60% of the growth. Meanwhile, the electrification of the transport, industrial and residential sectors are expected to deliver 90-150 TWh of growth each. While the market attention is focused predominantly on these data centers, we note that the electrification of the Permian Basin has been one of the most significant contributors to the nationwide demand growth in recent years. In fact, there is no other load zone in the country that has experienced the roughly 4 GW increase in average demand that Texas has seen since 2021. This translates into 30-35 TWh of added consumption and accounts for the entire industrial demand growth in Texas in the last four years. Using a combination of industry surveys, public data and Rystad Energy's proprietary data tools and models, we have been able to deconstruct the current 7.5 GW of Permian Texas grid power demand into individual contributors. Roughly 2.5 GW comes from residential and commercial sectors in West Texas and ~30% of that came on the back of accelerated Permian oil and gas development since 2017-2018. Upstream pad operations (mainly electric submersible pumps and other pad equipment) and gas compression contribute with ~2 and ~1 GW to the demand, respectively. The remaining 2 GW comes from direct electricity use at gas power plants, other oil and gas midstream facilities and liquids transmission. Some of these segments are positioned for significant growth in 2025-2035 regardless of oilfield activity outlook amid ongoing electrification of the basin. Hence, the Permian Basin will inevitably remain a critical contributor to nationwide demand growth. By Rystad Energy More Top Reads From this article on
Daily Mail
21 hours ago
- Business
- Daily Mail
Housing costs predicted to skyrocket this summer, experts warn
Power bills are rising faster than grocery prices — and experts say it's only going to get worse this summer. Electricity costs jumped 4.5 percent last year — more than double the 2.2 percent rise in grocery prices — and energy analysts warn the surge isn't stopping anytime soon. A mix of soaring natural gas prices, massive utility investments, and a boom in data centers is fueling the spike. And with summer here, the Energy Information Administration predicts Americans will pay about 4 percent more for electricity this season compared to last. Natural gas deliveries to power plants alone are expected to cost 50 percent more through September than they did during the same stretch last year. 'The more we export gas, the more domestic prices will begin to reflect international ones,' Hugh Wynne (Pictured) of Sector & Sovereign Research told the Wall Street Journal .. The average US household is expected to pay $784 in electricity costs between June and September, according to the National Energy Assistance Directors Association — a 4.2 percent increase from summer 2023. The roots of this crisis trace back to the 2022 energy shock following Russia's invasion of Ukraine. While prices briefly cooled, utilities have since raised rates to help cover storm-proofing efforts and wildfire prevention — investments made more expensive by rising labor and materials costs. Homebuyers had already been concerned over fears of an economic downturn before the Energy Information Administration concluded that electricity prices will outplace inflation through next year. Utility rises have also taken its toll on thousands of people like Adam Moore, an Indiana resident who was one of over 2,300 who protested CenterPoint Energy's plans to rise rates. This increased bills by around $5 a month, which the company insisted was needed to cover investments for various things like grid improvements and new solar plants. Meanwhile, data centers are driving a new wave of demand. PJM Interconnection — the nation's largest electric grid operator — expects $9.3 billion in additional costs to be passed on to customers as more data hubs come online. Pennsylvania utility regulators suggested residents consider searching for lower retail rates or conserve energy, since rates are set to rise 5% to 16% at most of its utilities. Even clean energy policy is under pressure. A rollback of tax credits from the Inflation Reduction Act could push electricity costs even higher. Bottom line: with inflation-weary Americans already struggling, experts say power bills will likely keep climbing for at least the next 12 to 18 months. 'On both fronts, there's little reason to believe that ratepayers will see easing pressure on their pocketbooks,' said Akshat Kasliwal of PA Consulting Group.
Zawya
a day ago
- Business
- Zawya
Egypt: Madbouly says 2 Western Desert oil fields to start production in July
Arab Finance: Prime Minister Mostafa Madbouly announced that two new oil fields in Egypt's Western Desert will begin production next month, contributing to increased domestic output, as per a statement. During the weekly press conference, Madbouly said Egypt has managed to secure alternatives to gas imports by utilizing three LNG regasification vessels located domestically. One is already operational, while the other two are expected to enter service by the end of this month. These additions will fully meet the needs of the electricity and industrial sectors, he said. He also acknowledged that some factories had been temporarily shut down as a precaution. The Prime Minister added that if further early solutions become available, the resumption of gas supplies to the affected factories may occur earlier than planned. Turning to economic matters, Madbouly emphasized that the Egyptian economy remains stable, with all factories operating at full capacity and production inputs available. Madbouly confirmed the formation of a crisis committee to monitor the repercussions of the Iranian-Israeli conflict on Egypt, warning against any attempts to fabricate domestic crises and emphasizing the state's readiness to confront any developments with firmness. Madbouly said the committee was instructed to develop detailed scenarios, including worst-case responses, to secure Egypt's basic needs. He emphasized the state's strategic reserves of basic food commodities now exceed six monthsو the longest coverage period ever achieved. He also announced that the supreme committee for market regulation and price monitoring will convene tomorrow, stressing there is no justification for any price hikes or instability in local markets. The Prime Minister affirmed that there are no internal crises in any state sector, nor any delays or rejections of requests for dollar credits needed for production inputs. Moreover, he reiterated Egypt's longstanding stance that stability in the region hinges on a just solution to the Palestinian cause. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Yahoo
a day ago
- Business
- Yahoo
Britain's risk of power outages this winter lowest since pre-Covid, Neso says
The risk of Britain having power outages this winter is lower than it has been for the past six years, according to forecasts by the public body responsible for keeping the lights on. The National Electricity System Operator (Neso) said there is set to be enough electricity to meet demand over the colder winter months. In its early winter outlook, Neso anticipates an average operational margin – the difference between supply of electricity and demand for it – of 6.6 gigawatts (GW) from the end of October to the end of March. This is the highest expected margin since the 2019-2020 winter and is greater than the 5.2 GW forecast last year. The publicly-owned operator is tasked with ensuring that the supply of and demand for electricity always remains balanced. If supply cannot meet demand then the country risks blackouts. An increase in the margin has been driven by several factors, Neso said, including growth in electricity supply from battery storage at both a national and regional level – which enables power from renewables to be stored and then released when it is needed. It also pointed to an increase in the availability of electricity generation from gas, and from a new power cable, known as the Greenlink interconnector, connecting electricity grids between Wales and Ireland. This increased supply is expected to more than offset an expected rise in demand during peak periods. The slight uptick marks a divergence from previous years, when demand has either stayed the same or fallen, but Neso said it is too early to say what might drive that increase. Neso said it expects there to be around six minutes over the winter period where it might have to resort to special measures to keep the grid running smoothly. In most cases where demand exceeds supply for a period of time, it is managed by the grid operator without any impact on consumers. Neso stressed it was remaining 'vigilant' in its preparation for the winter amid changes in global energy markets. 'Our early view of the winter ahead shows a positive outlook with sufficient margins throughout the colder winter months,' Deborah Petterson, Neso's director of resilience and emergency management said. 'We will continue to monitor developments in global energy markets, remaining vigilant in our preparations to ensure that the resilience and reliability of the electricity network is maintained.'
