Record Electricity Generation Forecasted for 2026 and 2027 Amid Rising Demand
The U.S. Energy Information Administration (EIA) forecasts record electricity generation in 2026 and 2027, with an increase of 2.2% to a total of 4,368 billion kilowatthours this year.
The EIA attributes the growth to additional demand, particularly strong in the West South Central region, driven by data center development and increased manufacturing activity in the commercial and industrial sectors.
In related news, global oil prices rose in August, averaging $91 per barrel for Brent crude oil. The EIA expects inventories to continue declining through the end of 2026, with prices forecasted to decline to an average of $74/b in 2027 as oil production recovers and inventories rebuild.