In an article for Energy Central, Navigant shares details on expectations for North America’s power and natural gas markets
Despite uncertainties around federal environmental policies and infrastructure, the energy transformation continues to take hold across North American markets. However, trends such as slower load growth, an increase of renewables, innovation in energy storage, and shifting supply and demand patterns in the natural gas market are expected to affect the future for both power and natural gas.
In our 2017 Mid-Year Energy Market Outlook, Navigant looks at both of these markets, detailing their current states and expected outcomes as the energy transformation advances. In an article for Energy Central, Maggie Shober, associate director at Navigant, provides an overview of Navigant’s most recent forecast, which will be discussed in greater detail during a Sept. 13 webinar.
Power Market Trends
Shober said the rate of growth of energy consumption and peak demand has decreased in recent years despite an increase in economic growth. The United States and Canada appear to be transitioning from the long-term trend where growth in energy consumption closely tracked economic growth. However, she said, this does not mean energy consumption will not grow. Navigant’s forecast includes overall growth in both consumption and peak demand, though the levels of growth (as well as energy efficiency and other demand-side resources) are expected to vary between regions.
Natural Gas Trends
While the power market grapples with the evolving energy generation mix and the associated effects on the grid, the natural gas market in North America continues its own evolution. Shober said this evolution is a process that entails ongoing shifts affecting both the power fuels sector and other segments of the natural gas market.
For more details on the North American energy market, read the full article and register now Navigant’s 2017 Mid-Year Energy Market Outlook webinar on Sept. 13.