FERC State of the Markets Report: Urgent Need for More Powergen

Two weeks ago, Federal Energy Regulatory Commission (FERC) staff issued the agency's annual State of the Markets report for 2024 (full copy below) to provide the industry and public with key information on market conditions and emerging issues in natural gas and electricity markets as well as significant market trends and fundamentals for the year. According to FERC Chairman Mark Christie, "The combination of rapidly increasing electricity demand, driven by hyperscale customers such as data centers, paired with the alarming rate of base load generation retirements and lack of new dispatchable generation, is not sustainable and must be addressed." FERC is sounding the alarm that more dispatchable (i.e., natural gas) power generation is urgently needed.

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