If you thought gasoline prices were bad, natural gas prices topped $9 before pulling back but have increased their gains by 196% over the past year, bolstering the risks of a blackout this summer.
The North American Electrical Reliability Corporation (NERC), a non-profit entity formed to promote the reliability and efficiency of bulk power transmission in North American electrical utility systems, recently warned of widespread summer blackouts in Summer Reliability Assessment Report.
NERC warns that some of the highlights are in the Midcontinent ISO (MISO) region that covers the Midwest of the United States; Manitoba, Canada; The southern US region that includes much of Arkansas, Mississippi, and Louisiana faces capacity shortages in its northern and central regions, resulting in a high risk of energy-related emergencies during peak summer conditions.
Americans raise their voices when recording high gas prices
NERC’s mission is to monitor all interconnected energy systems of contiguous Canada and the United States, as well as a portion of Mexican state of Baja Californiawhich makes his assessment more realistic.
Feed minutes signal possible faster pace higher prices
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Countries are already preparing for the worst. California Governor Gavin Newsom It is considering keeping a nuclear power plant open to offset the impact of hydropower loss due to drought.
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And in TexasResidents are urged to conserve electricity at temperatures to avoid power outages in the summer. They remind us that severe drought across much of Texas can produce favorable weather conditions for long-term, large-scale thermal phenomena and severe peaks in electricity demand.
They also warn that extreme heat increases peak demand and can be accompanied by weather patterns that lead to increased forced outages or reduced energy production from resources of all kinds.
Is inflation approaching a peak?
The combination of extreme peak demand, low winds, and high interruption rates of thermal generators may require system operators to use emergency procedures, including temporary manual load separation.
With the persistence of drought conditions over the Missouri River Basinthe output of thermal generators that use the Missouri River for cooling at the Southwest Power Pool (SPP) may be affected in the summer months.
Some say that Climate change He is to blame, but the culprit could be the fight against climate change. Perhaps we should not replace coal plants with wind and solar energy. Wind is not reliable and wind turbines end up in landfills when they retire.
If climate change is a concern, we must revamp our country’s energy grid and run it with new nuclear plants and natural gas. Natural gas is much cleaner than coal, and nuclear power is the only energy source that can provide massive amounts of electricity without greenhouse gas emissions. It’s time to leave the darkness and face the reality of our energy needs.
Phil Flynn is a senior energy analyst at The PRICE Futures Group and a contributor to the Fox Business Network. It is one of the world’s leading market analysts, providing individual investors, traders and institutional professionals with in-depth insights into investing and managing risk in the global petroleum, gasoline and energy markets. His accurate and timely forecasts are in high demand by industry and media around the world, and his impressive career goes back nearly three decades, gaining attention through market calls and his energetic personality as a writer for The Energy Report. You can contact Phil by phone at (888) 5665264 or by email at email@example.com.
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