Weekly Power Outlet US - 2024 - Week 9

TX XEL, AI>EV, FERC Nominees

Weekly Power Outlet US - 2024 - Week 9
Photo by Spencer DeMera / Unsplash

TX XEL, AI>EV, FERC Nominees

Energy Market Update Week 9 brought to you by Acumen.

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brown grass field with electric posts
Photo by Parsoa Khorsand / Unsplash

Utilities no doubt plan for natural disasters, be it an ice storm, snowstorm, hurricane...mother nature gets a vote. It seems more recently; plain old wind has become an issue. The tragedies of PG&E in California and Hawaii Electric on Maui may have company.

Xcel Energy disclosed in an 8-k, which basically is the way public companies disseminate stock relevant information, that they have been contacted by a law firm to preserve evidence near the origin of the massive fire still burning in the Texas Panhandle. Latest reports have two people losing their lives in the fire, and the fire itself is now the size of Rhode Island. Hopefully this is the extend of the tragedy, but shareholders aren't waiting around to let the lawyers and accountants tally up the damage. Below is the stock price of Xcel since the announcement.

This morning there are fire and red flag warnings out for a good chunk of the southern plains. Hopefully we are seeing the worst right now. Stay safe to all.

source: Yahoo Finance
a car is parked in the snow next to a screwdriver
Photo by JUICE / Unsplash

Last week we wrote about how the 2024 weekly update theme was going to be EV load out, AI database load in. Last year it seemed like the weekly write up was about grid reliability. Because we find that much more important, we will keep on top of that, but it's now official....AI is replacing EV in the load debate. We are just going to put it in a formula. AI>EV.

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Apple cancelling efforts to build electric car and will focus on generative artificial intelligence, according to Bloomberg. - 27-Feb-24.

brown wooden tool on white surface
Photo by Tingey Injury Law Firm / Unsplash

A couple weeks ago FERC Commissioner Clements announced she would leave after her term expires this spring. This week the Biden administration nominated three commissioners to fill out the commission that is looking at the potential of having only two of the five seats filled. The nominees are David Rosner (D), Judy Chang (D), & Lindsay See (R). By rule, no party can have more than three members of the commission, thus See from WV. We spent a little time trying to get a read on how likely it would of confirmation for each, but frankly, most of the early commentary is well wishes for each nominee. There was of course the requisite statements from environmental and fossil groups letting us all know they will be watching closely. Gee, thanks.



Red signifies week over week price change down / Green signifies week over week price change up
Forward 12 month strip


Trailing 52 weeks
Trailing 52 weeks
Trailing 52 weeks


Current week daily load plotted with past 3 months daily load


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