Short-Term Energy Outlook from the U.S. Energy Information Administration

October 31, 2023

Read the EIA's October report below:

Electricity Generation

We forecast that natural gas will supply 41% of total U.S. generation in 2024, down from an average of 42% in 2023. This decline is offset by a forecast increase in the share of renewable generation from 22% this year to 25% in 2024.

In the forecast, natural gas-fired generation is more likely to be affected by the increasing availability of renewable generation than by fuel costs because growing renewable capacity, which generally has lower operating costs than thermal generation, will lead to less need to generate from natural gas and coal. Much of the increase in renewable generation is the result of new solar generating capacity added by the electric power sector, which we expect will rise by 25 gigawatts (GW) in 2023. An expected 8 GW increase in wind-generating capacity also helps increase generation from renewables. The share of combined solar and wind generation tends to peak in the spring months when overall electricity demand is low. The new renewable-generating capacity should reduce the share of natural gas- and coal-fired capacity in spring 2024 compared with last spring.

Although we expect the increase in renewables capacity to be the main driver of relative electricity generation shares next year, low natural gas prices, compared with coal, are also changing the relative use of the two fuels. Costs for generating power from natural gas have been much more volatile than the costs for coal. Between March and July 2023, we estimate that the cost of producing power from combined-cycle natural gas power plants averaged $25 per megawatthour (MWh), lower than the estimated $31/MWh cost for generation from coal-fired power plants. During the same months in 2022, the cost of operating combined-cycle plants ($55/MWh) was 90% higher than for coal-fired power plants ($29/MWh).

We expect natural gas prices to increase in 2024, which should bring the costs of generating electricity from coal and natural gas closer together. For all of 2024, our estimated cost of natural gas-fired electricity averages $32/MWh compared with an average $29/MWh for coal. We expect these similar costs will keep the share of U.S. generation from coal near 15% on average in 2024.

Coal Inventories

We forecast that coal inventories held by the electric power sector will reach almost 150 million short tons (MMst) in December 2023, a 66% jump over December 2022. The rising coal inventories this year are a result of a delayed response in production to the drop in coal-fired generation as coal producers fulfill supply contracts already in place. Although forecast natural gas prices rise slightly over the next few months, we expect coal inventories will increase until the spring of 2024, peaking near 170 MMst in May as the electric power industry gears up for summer power consumption. We forecast coal stocks will decrease from May 2024 levels back below 150 MMst in late 2024 as coal consumption goes through its normal seasonal drop in the fall.

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One Last Round: Why the Purple Tee Classic Matters to Me

By Russell Lacey • August 31, 2026

Every golfer has a round they remember. It might be a personal best, a long putt that somehow found the cup, or a perfect drive down the middle of the fairway. For me, the most meaningful round has less to do with my score and more to do with the people gathered around the first tee. That round is the Purple Tee Classic. On Thursday, September 17, 2026 , Metro Bethesda Rotary will host the 20th Annual Purple Tee Classic at Whiskey Creek , with a 10:00 a.m. shotgun start. This will be my third year leading the tournament, and my final year in that leadership role. That makes this year especially meaningful to me. More Than a Golf Tournament The Purple Tee Classic is a day of golf, but it is really about much more than a day on the course. It brings together business owners, community members, Rotarians, friends, families, veterans, and first responders around a shared purpose. The fundraiser supports veterans and first responders, people who have served, protected, and supported our communities in ways most of us will never fully understand. Golf gives us the setting. Service gives the day its meaning. That is what I value most about Rotary. The organization creates opportunities for people to put relationships, resources, and time to work for something larger than themselves. The Rotary principle of “Service Above Self” is not just a phrase. It is something we are asked to live out by showing up, contributing, and following through. The Purple Tee Classic is one of the clearest examples of that principle in action. Why This Final Year Matters Leading a tournament like this takes more than setting a tee time and asking people to come out and play. It takes planning, coordination, communication, fundraising, and a team willing to handle the many details most participants will never see. That is one of the biggest things I want to say clearly this year: this event is absolutely a team effort. The Metro Bethesda Rotary members involved in this committee do a tremendous amount behind the scenes. They help plan, coordinate, communicate, recruit sponsors and players, and keep things moving in all the ways that make an event like this possible. A lot of that work is not flashy. It is steady, thoughtful, behind-the-scenes effort that helps turn a good idea into a real event that serves real people. I have been fortunate to work alongside fellow Rotary members who care deeply about Rotary’s mission and the causes the tournament supports. I am genuinely grateful for their time, commitment, and willingness to do the work that needs to get done. Events like this do not come together because of one person. They come together because a group of committed people keeps showing up and doing their part. It also takes the support of a broader community. Over the past three years, I have seen how a simple invitation, to play a round of golf or contribute an auction item, can become part of a much larger effort. As I prepare for my final year leading the Purple Tee, I am thinking less about the fact that my leadership role is ending and more about what I hope continues. I hope the tournament continues to bring people together. I hope new sponsors and players discover the value of supporting a community event with a clear purpose. And I hope every participant leaves Whiskey Creek remembering that the best part of the day was never just the golf. It was the difference we helped make by showing up. How You Can Help There are several ways to support this milestone event: Become a tournament sponsor. Help strengthen the event while putting your organization in front of an engaged local community. Register a foursome . Bring colleagues, friends, clients, or family members for a meaningful day on the course. Sponsor a veteran or first responder. Help someone enjoy a round of golf and participate in the Purple Tee experience. Donate an item or experience. Raffle and auction contributions add energy to the day and help expand the event’s fundraising potential. Every form of participation matters. Not everyone can sponsor at the same level, and not everyone plays golf. But everyone can consider whether they, or someone they know, might be able to help. Key Takeaways The 20th Annual Purple Tee Classic will take place at Whiskey Creek on September 17, 2026. This is my third year leading the tournament and my final year in that leadership role. The fundraiser supports veterans and first responders. Sponsors, foursomes, individual player support, and donated auction or raffle items are all important. Rotary has given me the opportunity to serve with people who care about their community and are willing to turn good intentions into action. I am grateful for that opportunity, grateful for the people I get to work alongside, and determined to make this final year leading the Purple Tee Classic a memorable one. If you would like to support the event, please visit purpletee.fundraiser.bid . You can also message me directly if you are interested or know someone who may want to help. One last round in this leadership role. One more opportunity to bring people together. And one more chance to support the veterans and first responders who deserve our gratitude.

Aerial view of Baltimore's Inner Harbor with buildings, boats, and a wide body of water reflecting the cityscape.

Energy Incentives Are Available, But Do You Know Where To Look?

By Andrew Sandglass • July 9, 2026

Your guide to Energy Incentives for Maryland is here

Why Everyone Is Talking About Utility Bill Audits (And You Should Too)

By Russell Lacey • June 24, 2026

For most business owners, the monthly utility bill is just another line item to be paid and filed away. You glance at the total, ensure it isn't astronomically higher than last month, and move on. But in 2026, with energy markets facing unprecedented volatility and complex new tariff structures, that "glance and pay" strategy is costing American businesses billions in overpayments. The good news? You don’t have to just accept these costs as the price of doing business. Everyone is talking about utility bill audits because they have transitioned from a "nice-to-have" occasional check to a critical financial strategy. At Electric Advisors, Inc., we’ve seen firsthand how a meticulous review of historical invoices can uncover significant refunds and permanent rate reductions.