Commodity Market Report

The post-coronavirus recovery: North America power and renewables April 2021 short-term outlook

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10 May 2021

The post-coronavirus recovery: North America power and renewables April 2021 short-term outlook

Report summary

Power markets are generally seeing a continuing return to normal as they shake off the lingering impacts from last year: - Average daily demand in April was 5% higher than the same time last year. Cumulative average daily demand between January and April for 2021 has returned to pre-pandemic levels. - While still facing increasing amounts of coal retirement announcements, or announcements that plants will be retired sooner (one recent IRP called for an additional 4.6 GW), coal generation looks to recover from 2020 levels, aided by this year’s winter weather, higher gas prices, and the improving demand outlook. For natural gas, overall we see generation staying flat or somewhat lower than last year, due to the higher prices. - Finally, new renewable additions continue to boom, with particular concentrations in ERCOT, WECC, MISO and SPP. We expect close to 41.5 GW solar, wind and battery storage coming online in the next three years.

Table of contents

  • A step-by-step recovery

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Short Term Outlook Delivered Fuel Prices Nominal 4 24 2021.xlsx

    XLSX 116.58 KB

  • Document

    Short Term Outlook Delivered Fuel Prices Real 4 24 2021.xlsx

    XLSX 151.49 KB

  • Document

    Short Term Outlook Load Forecast 4 24 2021.xlsx

    XLSX 327.57 KB

  • Document

    Short Term Outlook Prices Sparks IHR Darks Nominal 4 24 2021.xlsx

    XLSX 1.99 MB

  • Document

    Short Term Outlook Prices Sparks IHR Darks Real 4 24 2021.xlsx

    XLSX 3.54 MB

  • Document

    Short Term Outlook Short Term Fundamentals 4 24 2021.xlsx

    XLSX 1.03 MB

  • Document

    North America power and renewables - April 2021 STO_v2_PR.pdf

    PDF 1.17 MB