ICF International has released a fresh energy outlook report that forecasts prices, regulatory impact and future demands for gas, coal, renewable energy and power.
The ICForecast Energy Outlook for the third quarter of 2014 projects a decline in gas prices over the next 18 months due to potential atmospheric factors during that period, ICF said Tuesday.
Gas prices are expected, however, to increase over the next 10 years owing to liquefied natural gas and Mexican exports demand growth, with the Marcellus Shale and the Utica Shale accounting for about 80 percent of the estimated rise in natural gas production.
Coal consumption is projected to remain flat over the next decade, according to the report.
Renewable and wind energies combined are expected to drive opportunities in select U.S. regions while solar energy sustains its growth in some parts of the U.S.
ICF also projected a steady 63-Gigawatt coal plant retirement in the U.S. following a recent court approval for the Environmental Protection Agency’s Mercury and Air Toxics Standards and the Cross-state Air Pollution rules.
“With the power sector facing added regulatory uncertainty in the face of EPA’s recent CO2 proposal, it is critical that parties engaged in generation – from owners to fuel delivery – evaluate the viability of their investments going forward,” said Chris MacCracken, principal for ICF International.