US Northeast power sector’s 2015 oil demand down 11% from 2014: ISO NE
US Northeast power generators have burned through more than 630,000 barrels of oil so far this year, or about 9,400 b/d, down about 11% from the same period in 2014, the latest ISO New England data shows.
Recent bouts of frigid temperatures increased the oil burn by generators but overall demand has been down from 2014, according to ISO New England data, published Wednesday. The ISO handles the electricity markets and grid operation for Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont.
Northeast power utilities consumed 80% of their 2015 oil demand in the past month. Even so, it was not enough to put 2015 over 2014 demand, in which spiking spot natural gas prices made the switch to oil for power generation an easy decision.