Texas avoids blackouts, power use to break more records in heat wave
Power demand in Texas will likely hit more record highs later this week as consumers crank up air conditioners...
Power demand in Texas will likely hit more record highs later this week as consumers crank up air conditioners to escape a lingering heat wave after homes and businesses helped avoid rotating blackouts by conserving energy on Monday.
Power demand in Texas hit another all-time high on Tuesday as consumers crank up their air conditioners to escape a lingering heat wave after homes and businesses conserved energy earlier this week to avoid and help avoid rotating blackouts.
ERCOT power use hit a preliminary 78,419 megawatts (MW) on Tuesday, topping the prior record of 78,264 MW on Monday, and will reach 78,963 MW on Wednesday.
But conservation efforts reduced energy use enough to enable available resources to meet Monday's record demand. Unlike Monday, however, ERCOT has not yet urged consumers to conserve energy for the rest of the week. One megawatt can power around 1,000 U.S. homes on a typical day, but only about 200 homes on a hot summer day in Texas.
Tellurian Acquires Private Haynesville Producer EnSight for $125 Million
Tellurian Inc. is acquiring natural gas assets located in the Haynesville Shale...
Tellurian Inc. is acquiring natural gas assets located in the Haynesville Shale from privately held EnSight Energy Partners LP for $125 million plus a contingent payment tied to the price of natural gas.
“We have been diligently growing our natural gas production and reserves in the Haynesville,” commented John Howie, president of Tellurian Production LLC, in a company release.
A subsidiary of the Houston-based LNG developer, Tellurian Production agreed to pay up to $132.5 million to purchase the natural gas assets from EnSight IV Energy Partners LLC and EnSight Haynesville Partners LLC. The assets are located in the core of the Haynesville Shale in DeSoto, Bossier, Caddo, and Webster parishes in Louisiana.
The consumer price index jumped 1.3% last month to mark the third time in the last four months it’s...
The consumer price index jumped 1.3% last month to mark the third time in the last four months it’s topped 1%. Economists polled by The Wall Street Journal had forecast a 1.1% advance.
The increase in inflation over the past year rose to 9.1% to 8.6%. The last time inflation was so high was in November 1981.
US stock futures traded cautiously Wednesday, as investors brace for key US inflation...
US stock futures traded cautiously Wednesday, as investors brace for key US inflation data. Meanwhile, Twitter's share price is up in pre-market trading, after the social media company sued Elon Musk, saying the billionaire is obligated to complete the $44 billion deal. Here are the latest market moves.
Experts on Wall Street are warning that the stock market sell-off likely isn't over. The S&P 500 has fallen as much as 23% this year, but some of the pros forecast further downside. These 10 charts paint a picture of what's to come.
BlackRock said investors should be prepared for a long stretch of market volatility. And the turbulence will last for years, according to the world's biggest asset manager. The firm's analysts broke down its strategy to help investors roll with the punches — including these four portfolio changes to make during the uncertainty.
US LNG Exports Could Dip 6% for Rest of 2022 amid Freeport Outage: EIA
U.S. liquefied natural gas exports could...
U.S. liquefied natural gas exports could fall about 6% in the second half of 2022 from the first half, due to the ongoing Freeport LNG outage in Texas, the U.S. Energy Information Administration (EIA) said on Tuesday.
The second-biggest U.S. liquefied natural gas export facility was hit by a fire on June 8, knocking out its 15 million tonnes per year (mtpa) Quintana plant.
Freeport LNG, which accounts for 17% of U.S. LNG export capacity, estimates a return to full production by year-end.
Natural gas prices also slumped as Freeport was consuming about 2 billion cubic feet per day (bcfd) of gas before it shut.
