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MPSC Winter Energy Forecast: Lower Petroleum And Propane Prices, Increased Demand For Natural Gas

The Michigan Public Service Commission’s Winter Energy Appraisal for 2023-2024 projects demand for electricity will decline slightly while demand for natural gas will increase, mainly because of increased use of the fuel in electricity generation.The annual report released today projects electricity demand will decline 2.7% overall, with residential demand declining 5.7% and commercial demand falling 2.5%, while industrial demand increases 0.9%. Consumption of natural gas is projected to increase 7.6%, due to increased use of gas in electrical generation, outweighing expected declines in the residential (-5.4%), commercial (-4.3%) and industrial (-1.6%) sectors. ....

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Big Rapids Daily News - WYBR-FM Big Rapids, MI Today's Hit Music

The Michigan Public Service Commission’s Winter Energy Appraisal for 2023-2024 projects demand for electricity will decline slightly while demand for natural gas will increase, mainly because of increased use of the fuel in electricity generation.

The annual report released today projects electricity demand will decline 2.7% overall, with residential demand declining 5.7% and commercial demand falling 2.5%, while industrial demand increases 0.9%. Consumption of natural gas is projected to increase 7.6%, due to increased use of gas in electrical generation, outweighing expected declines in the residential (-5.4%), commercial (-4.3%) and industrial (-1.6%) sectors.

While household electric use is expected to decline, the U.S. Energy Information Administration (EIA) forecasts that average electricity prices in the east north central part of the country, which includes Michigan, will increase to 16.09 cents per kilowatt hour (kWh), up 3.9% from 2022. For n ....

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LARA - MPSC's Winter Energy Appraisal finds mixed outlook in demand for energy products as pandemic impacts wane

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