While electricity generation climbed to new heights in 2022, with over 4,200 billion kWh produced in the U.S. alone, a volatile global energy landscape is forcing a dramatic transformation across every facet of the utility industry, from the power lines above to the water pipes below.
Key Takeaways
- In 2022, U.S. electricity generation totaled 4,243 billion kWh, with natural gas accounting for 40.3% of the mix
- Global electricity consumption grew by 2.6% in 2022 to 27,106 TWh, driven by emerging economies
- U.S. residential electricity sales reached 1,494 billion kWh in 2022, up 6% from 2021
- U.S. dry natural gas production hit 36.4 Tcf in 2022, up 8.4%
- Global natural gas demand rose 0.7% to 4,048 bcm in 2022 despite war
- U.S. LNG exports reached 11.9 Bcf/d in 2022, up 25%
- Global water withdrawal totals 4,000 km³/year, 70% for agriculture in 2022 estimates
- U.S. public water systems serve 90% of population, treating 39 billion gallons/day in 2022
- Global urban water supply coverage 84% in 2022 per WHO/UNICEF
- Global renewable electricity capacity reached 3,372 GW in 2022, up 10.7%
- Wind power added 77 GW globally in 2022, onshore 73 GW
- Solar PV capacity grew 240 GW worldwide in 2022 to 1,053 GW total
- U.S. Utility revenues $450 billion in 2022
- Global utility market cap $3.5 trillion end 2022
- U.S. electric utility capex $100 billion in 2022
Rising renewable capacity and shifting power generation highlight evolving global energy consumption trends.
Electricity
- In 2022, U.S. electricity generation totaled 4,243 billion kWh, with natural gas accounting for 40.3% of the mix
- Global electricity consumption grew by 2.6% in 2022 to 27,106 TWh, driven by emerging economies
- U.S. residential electricity sales reached 1,494 billion kWh in 2022, up 6% from 2021
- Coal-fired power plants generated 20% of U.S. electricity in 2022, down from 23% in 2020
- Texas produced 13.3% of U.S. electricity in 2022 at 536 billion kWh
- Wind power contributed 10.3% to U.S. electricity in 2022, totaling 434 billion kWh
- U.S. electricity retail prices averaged 15.95 cents/kWh in 2022, up 11.3% from 2021
- Nuclear power generated 775 billion kWh in the U.S. in 2022, 18.2% of total
- California generated 285 billion kWh from solar in 2022, 13% of state total
- U.S. utility-scale battery storage capacity reached 7.4 GW in 2022
- PJM Interconnection delivered 775 TWh of electricity in 2022
- U.S. electricity transmission losses were 5% of generation in 2022, or 204 billion kWh
- Hydroelectric power produced 239 billion kWh in U.S. in 2022, 5.9% of total
- ERCOT grid peak demand hit 85.5 GW in 2022
- U.S. industrial electricity use was 970 billion kWh in 2022, 25% of total sales
- MISO delivered 358 TWh in 2022 across 15 states
- U.S. electricity end-use efficiency improved 27% since 1990 per EIA data for 2022
- SPP market served 1,200 TWh demand in 2022
- U.S. commercial sector used 1,384 billion kWh electricity in 2022
- NYISO peak load was 33 GW in summer 2022
- Global electricity demand forecast to rise 3.4% in 2023 per IEA
- ISO-NE generated 132 TWh in 2022
- U.S. rooftop solar added 5.8 GW in 2022
- CAISO peak demand 52 GW in 2022
- U.S. electricity capacity reached 1,185 GW in 2022
- Global electricity access reached 92% of population in 2022 per IEA
- U.S. net electricity generation from renewables hit 844 billion kWh in 2022
- FERC reported 3,022 GW-hours of interstate electricity trade in 2022
- U.S. average residential electricity bill $132/month in 2022
- Europe's electricity demand fell 3.5% in 2022 due to energy crisis
- U.S. natural gas-fired plants produced 1,712 billion kWh electricity in 2022, 40% of total
Electricity Interpretation
While the U.S. juggles a still-gas-heavy energy mix and rising bills, a global surge in demand underscores the high-stakes race to green the grid and improve efficiency before the lights—or our wallets—flicker out.
Natural Gas
- U.S. dry natural gas production hit 36.4 Tcf in 2022, up 8.4%
- Global natural gas demand rose 0.7% to 4,048 bcm in 2022 despite war
- U.S. LNG exports reached 11.9 Bcf/d in 2022, up 25%
- Henry Hub spot price averaged $6.45/MMBtu in 2022, up 127%
- U.S. natural gas consumption 33.6 Tcf in 2022, electric power sector 40%
- Permian Basin produced 20.2 Bcf/d natural gas in 2022
- Europe imported 155 bcm LNG in 2022, up 42% to replace Russian gas
- U.S. natural gas storage inventories ended 2022 at 2,879 Bcf
- Haynesville shale output 14.5 Bcf/d in Dec 2022
- Global LNG trade 404 Mt in 2022, up 6.6%
- Marcellus/Utica produced 35.7 Bcf/d in 2022
- U.S. pipeline imports from Canada 8.5 Bcf/d average 2022
- Russia's natural gas exports to Europe fell 80% in 2022 to 40 bcm
- U.S. industrial natural gas use 10.5 Tcf in 2022
- Qatar exported 77 Mt LNG in 2022
- U.S. residential natural gas deliveries 4.9 Tcf in 2022
- Australia LNG exports 81 Mt in 2022, leading exporter
- U.S. natural gas rig count averaged 160 in 2022
- China's natural gas imports 126 bcm in 2022, up 9%
- U.S. Gulf Coast LNG capacity 44.8 Bcf/d by end 2022
- Global natural gas prices averaged $10.50/MMBtu TTF in 2022
- Eagle Ford natural gas production 6.2 Bcf/d in 2022
- U.S. commercial natural gas use 3.3 Tcf in 2022
- Norway exported 121 bcm gas to Europe in 2022, record high
- U.S. natural gas exports total 12.3 Tcf in 2022
- Global underground gas storage capacity 427 bcm working volume in 2022
- Appalachia gas production 32 Bcf/d in 2022
- U.S. heating degree days 5,400 in 2022-23 winter
- LNG carrier fleet 562 vessels in 2022
- U.S. gas pipeline miles 305,000 in 2022
- Global gas-fired power generation up 1.5% to 5,800 TWh in 2022
- Bakken shale gas output 2.8 Bcf/d 2022
- U.S. natural gas wellhead price $5.28/Mcf average 2022
- Europe gas consumption down 12% in 2022 to 325 bcm
Natural Gas Interpretation
America turned up the gas to power itself and rescue a freezing Europe, proving that while you can't please everyone, you can certainly light their furnaces and inflate their bills for them.
Renewables
- Global renewable electricity capacity reached 3,372 GW in 2022, up 10.7%
- Wind power added 77 GW globally in 2022, onshore 73 GW
- Solar PV capacity grew 240 GW worldwide in 2022 to 1,053 GW total
- U.S. renewable generation 21% of electricity in 2022, 893 billion kWh
- China installed 87 GW solar in 2022, 38% global total
- Offshore wind capacity 35 GW global end 2022
- Hydropower generated 4,150 TWh globally in 2022
- U.S. solar capacity 139 GW by end 2022
- EU renewable share 23% of energy in 2022
- Bioenergy contributed 2,400 TWh electricity globally 2022
- India added 11.7 GW renewables in 2022, total 175 GW
- Geothermal capacity 15.9 GW global 2022
- U.S. wind capacity 141 GW end 2022
- Brazil renewables 89% of electricity in 2022
- Green hydrogen projects 347 announced globally 2022
- Concentrated solar power 6.5 GW global 2022
- Vietnam renewable capacity 25 GW end 2022
- Corporate PPA for renewables 25 GW signed 2022
- Global battery storage for renewables 28 GW/45 GWh in 2022
- Morocco Noor Ouarzazate CSP 580 MW operational 2022
- U.S. utility-scale solar added 11.2 GW in 2022
- Global renewable investment $495 billion in 2022
- Germany Energiewende renewables 46% electricity 2022
- Floating offshore wind pilots 100 MW global 2022
- Global renewable jobs 12.7 million in 2022
Renewables Interpretation
The renewable energy revolution is no longer knocking at the door—it’s blowing the roof off, shining a light on the grid, and hiring 12.7 million people to prove the future is already being installed.
Utilities Finance
- U.S. Utility revenues $450 billion in 2022
- Global utility market cap $3.5 trillion end 2022
- U.S. electric utility capex $100 billion in 2022
- NextEra Energy revenue $21.1 billion in 2022
- Duke Energy net income $3.8 billion 2022
- Southern Company EBITDA $11.5 billion 2022
- Global utility debt $2.8 trillion in 2022
- Dominion Energy revenue $14 billion 2022
- U.S. water utilities revenue $60 billion annually avg 2022
- Iberdrola net profit €4.34 billion 2022
- Enel revenue €140.5 billion 2022
- U.S. regulated utility ROE averaged 9.8% in 2022
- EDF EBITDA €42.9 billion 2022
- American Water Works revenue $4.1 billion 2022
- Sempra Energy net income $2.6 billion 2022
- U.S. utility dividends $60 billion paid 2022
- National Grid operating profit £2.7 billion 2022
- Eversource revenue $11.5 billion 2022
- Global utility M&A deals $100 billion value 2022
- Exelon net income $2.3 billion 2022
- U.S. renewable incentives PTC/ITC $15 billion 2022
Utilities Finance Interpretation
The utility industry is a colossal, debt-laden machine that spins vast revenues into modest, regulated returns, all while trying to fund a historic transformation with one hand and pay steady dividends with the other.
Water Supply
- Global water withdrawal totals 4,000 km³/year, 70% for agriculture in 2022 estimates
- U.S. public water systems serve 90% of population, treating 39 billion gallons/day in 2022
- Global urban water supply coverage 84% in 2022 per WHO/UNICEF
- U.S. residential water use averages 82 gallons/person/day in 2022
- China water consumption 600 billion m³ in 2022, industry 17%
- World desalination capacity 100 million m³/day in 2022
- U.S. wastewater treatment plants number 16,000, treating 34 billion gallons/day 2022
- India groundwater depletion 245 km³/year in 2022
- EU water abstraction 295 km³/year, 44% for cooling in power plants 2022
- California water use 80% agriculture, total 40 million acre-feet in 2022
- Global bottled water market $300 billion in 2022
- U.S. lead service lines 6.1 million estimated in 2022
- Africa safe drinking water access 60% in 2022
- Australia average household water use 300 liters/person/day 2022
- Global wastewater generated 380 km³/year, only 20% treated in 2022
- U.S. PFAS detected in 45% public water systems per 2022 USGS
- Brazil water loss in distribution 39% in 2022
- Japan water supply efficiency 96% non-revenue water low in 2022
- Global investment in water infrastructure $1 trillion needed annually to 2030 per 2022 World Bank
- U.S. combined sewer overflows 850 billion gallons/year average 2022
- Mexico City water deficit 40% of demand in 2022
- Global smart water meters installed 50 million by 2022
- South Africa water leaks 37% of supply in 2022
- U.S. water utility rates up 4.1% average in 2022
- Global water stress affects 2.4 billion people in 2022
- UK's water companies fined £168 million for leaks in 2022
Water Supply Interpretation
The statistics paint a starkly modern water paradox: we are simultaneously engineering brilliant efficiency in some cities while presiding over a global system where agriculture drinks the lion's share, billions lack safe access, and we pour more money into bottled water than into fixing the leaks and contamination that make it necessary.
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