US electricity prices turn negative
Plunging domestic energy demand is raising concerns that Covid-19 will slow the growth of renewables
Pandemonium descended on the US oil market this month, but crude is not the only energy source in extreme oversupply. When the world runs out of storage, oil prices can—and recently did—go negative. But what happens when there is a surplus of electricity? Spring in America is the seasonal window when the giant solar installations of California and the vast wind farms of Texas start to crank up. Typically, the rising flows of renewable supply are offset by warmer temperatures and soaring air conditioning demand from workplaces. But Americans this spring are, like people everywhere, working from home. There is a question therefore over where to put the extra electricity. California, like other
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
