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Winter 2017-18 Energy Market Assessment

Winter 2017-18 Energy Market Assessment

Full Title: Winter 2017-18 Energy Market Assessment
Publisher(s): Federal Energy Regulatory Commission
Publication Date: October 1, 2017
Full Text: Download Resource
Description (excerpt):

The Winter Energy Market Assessment is staff’s opportunity to look ahead to the coming winter and share our thoughts and expectations about market preparedness, including an assessment of risks. Natural gas markets are entering this winter with a strong storage base and an expanding pipeline network that is delivering more supply to local markets and beyond. A lag in natural gas production over the past year-and-ahalf is expected to give way to renewed production growth as a result of increased drilling activity, while LNG projects in the Gulf and East coasts are expected to increase demand. Weather forecasts call for warmer than normal winter temperatures that look to moderate demand in the most sensitive markets, for example the Northeast, during the upcoming season. In the electric markets, electric capacity is sufficient in all regions based on current load forecasts. Since the extreme winter events of 2014, grid operators in the East have paid closer attention to winter readiness and reliability. For example, PJM and ISO New England continue to phase in performance requirements for capacity resources and the RTOS and ISOs have initiated other programs and procedures that focus on winter readiness. In the West, the Energy Imbalance Market (EIM) continues to expand this winter with the addition of Portland General Electric. These developments are expected to improve electric market operations in the winter months. Both the natural gas and electricity markets are unlikely to be impacted by long-lasting outages from hurricanes Harvey and Nate, which collectively forced the closure or reduced operations of more than 10 refineries in Texas and Louisiana in late August and early October, respectively.

All statements and/or propositions in discussion prompts are meant exclusively to stimulate discussion and do not represent the views of, its Partners, Topic Directors or Experts, nor of any individual or organization. Comments by and opinions of Expert participants are their own.

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