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NRG Matters – US power consumption to rise to record high in 2022; KAPSARC team attends energy event in Tokyo 

RIYADH: On a macro level, power consumption in the US is expected to rise to a record high in 2022. Zooming in, a delegation from Saudi Arabia’s King Abdullah Petroleum Studies and Research Center attended a conference in Tokyo to discuss decarbonization and renewable energy challenges and opportunities. 

Looking at the bigger picture

• US power consumption is expected to rise to a record high in 2022 as the economy grows, Reuters reported citing the US Energy Information Administration’s Short-Term Energy Outlook.

The EIA forecast power demand will climb to 4,027 billion kWh in 2022, from 3,930 billion kWh in 2021, before sliding to 4,018 billion kWh in 2023.

•  Électricité de France is seeking €8.34 billion ($8.5 billion) from the French state, its main shareholder, in compensation, as the government forced it to sell power at cut-rate prices to protect consumers from the surging inflation.

The French government is defending its decision to force EDF to sell more of its nuclear power output at a discount as the measure is taken in the wider interest of consumers due to surging energy prices, Bloomberg reported. 

Through a micro lens

• The Emirates Water and Electricity Co. has signed an initial agreement with the Abu Dhabi Department of Economic Development to reinforce the competitiveness of the emirate’s energy sector, Trade Arabia reported.

The joint initiative aims to boost sustainability best practices and promote the adoption of clean energy certificates across Abu Dhabi’s industrial sector. 

• A delegation from the King Abdullah Petroleum Studies and Research Center, KAPSARC,  participated in plenary and  specialized sessions in the 43rd International Association for Energy Economics held in Tokyo, the Saudi Press Agency reported. 

During the sessions, researchers discussed the future role of fossil fuels, challenges and opportunities for decarbonization and renewable energy, as well as energy economics, the electricity market, transportation issues and oil market stability.

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