U.S. NUCLEAR POWER - 2017
WNA - Nuclear Power in the USA
- The USA is the world's largest producer of nuclear power, accounting for more than 30% of worldwide nuclear generation of electricity.
- The country's 99 nuclear reactors produced 805 billion kWh in 2016, almost 20% of total electrical output. There are two reactors under construction.
- Following a 30-year period in which few new reactors were built, it is expected that two more new units will come online soon after 2020, these resulting from 16 licence applications made since mid-2007 to build 24 new nuclear reactors.
- Government policy changes since the late 1990s have helped pave the way for significant growth in nuclear capacity.
- Some states have liberalized wholesale electricity markets, which makes the financing of capital-intensive power projects difficult, and coupled with lower gas prices since 2009, have put the economic viability of some existing reactors and proposed projects in doubt.
- The first zero-emission credit programs have commenced, in New York and Illinois.
In 2016, the US electricity generation was 4079 TWh (billion kWh) net, 1380 TWh (34%) of it from gas, 1240 TWh (30%) from coal-fired plant, 805 TWh (19.7%) nuclear, 266 TWh from hydro, 226 TWh from wind, and 117 TWh from other renewables (EIA data). Annual electricity demand is projected to increase to 5,000 billion kWh in 2030, though in the short term it is depressed and has not exceeded the 2007 level. Annual per capita electricity consumption in 2013 was 11,955 kWh. Total net summer capacity is 1060 GWe, less than one-tenth of which is nuclear.
Nuclear power plays a major role. The USA has 99 nuclear power reactors in 30 states, operated by 30 different power companies, and in 2016 they produced 805 TWh. Since 2001 these plants have achieved an average capacity factor of over 90%, generating up to 807 TWh per year and accounting for about 20% of total electricity generated. The average capacity factor has risen from 50% in the early 1970s, to 70% in 1991, and it passed 90% in 2002, remaining at around this level since. In 2016 it was a record 92.5%, compared with wind 34.7% (EIA data). The industry invests about $7.5 billion per year in maintenance and upgrades of the plants.
Average nuclear generation costs have come down from $40/MWh in 2012 to $34/MWh in 2016.
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U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.
NPD - Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June.
GAZPROM NEFT - For the first six months of 2018 Gazprom Neft achieved revenue** growth of 24.4% year-on-year, at one trillion, 137.7 billion rubles (RUB1,137,700,000,000). The Company achieved a 49.8% year-on-year increase in adjusted EBITDA, to RUB368.2 billion. This performance reflected positive market conditions for oil and oil products, production growth at the Company’s new projects, and effective management initiatives. Net profit attributable to Gazprom Neft PJSC shareholders grew 49.6% year on year, to RUB166.4 billion. Growth in the Company’s operating cash flow, as well as the completion of key infrastructure investments at new upstream projects, delivered positive free cash flow of RUB47.5 billion for 1H 2018.
REUTERS - Front-month Brent crude oil futures LCOc1 were at $72.34 per barrel at 0648 GMT, down by 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.3 percent, at $66.81 per barrel.