Transcription of Short-Term Energy Outlook
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Short-Term Energy Outlook
Energy Information Administration | Short-Term Energy Outlook January 2022 1 Note: EIA completed modeling and analysis for this report on Thursday January 6, 2022 January 2022 Short-Term Energy Outlook Forecast highlights This edition of the Short-Term Energy Outlook (STEO) is the first to include forecasts for 2023. The STEO continues to reflect heightened levels of uncertainty as a result of the ongoing COVID-19 pandemic. Notably, the Omicron variant of COVID-19 raises questions about global Energy consumption. real GDP declined by in 2020 from 2019 levels. Based on forecasts that use the IHS Markit macroeconomic model, we estimate GDP increased in 2021 and that it will rise by in 2022 and by in 2023.
moderate somewhat in the next year, and we forecast that the share of U.S. generation from hydropower will rise from 6% in 2021 to 7% in 2022 and 2023. • The U.S. retail electricity price for the residential sector in our forecast averages 14.2 cents per kilowatthour in 2022, which is 4% higher than the average retail price in 2021.
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