November 2022 showed a slight increase in net generation YOY, uplifted by wind

Utility-scale generation net of hydroelectric pumped storage increased 2.4% year over year in November 2022 to 323.2 million MWh, according to the U.S. Energy Information Administration's latest "Electric Power Monthly" released Jan. 25.

Combined fossil fuels accounted for 56.7% of the total generation in November, showing a decline from October 2022. Gas-fired generation climbed 3.8% to 127.1 million MWh, accounting for 39.3% of the net total. Meanwhile, coal-fired generation declined 1.7% versus the prior-year period to 56.2 million MWh, accounting for 17.4% of the nation's electricity.

Renewable output climbed 7.2% year over year, or an increase of 5.0 million MWh, to 75.0 million MWh. Wind took the lead in November, growing 17.4% to 42.0 million MWh.

Year-to-date through November, utility-scale generation climbed 2.8% year over year to 3.88 billion MWh, with coal supplying 19.5% of the nation's power and natural gas at a 39.9% share. Through November 2022, renewable generation supplied 21.6% of the nation's power, compared with 19.8% a year earlier.

Additionally, coal-fired generation declined 9.9% year over year to 755.7 million MWh for the first 11 months of 2022. Over the same time period, gas-fired generation climbed 7.0% to 1.55 billion MWh, and renewable generation grew 12.1% to 838.2 million MWh. Solar led the year-to-date changes, increasing 27.4% to 138.0 million MWh, with wind close behind increasing 16.9% to 395.6 million MWh.

Power-sector coal stockpiles increased by 6.0 million tons during the month, above the 10-year average build of 4.7 million tons. During the prior 10 years, November stockpile fluctuations versus the prior month have ranged from a draw of 780,000 tons to a build of 13.0 million tons.

The EIA estimates that the November 2022 stockpile level of 94.1 million tons translates to 115 days of burn and 110 days of burn, respectively, for bituminous and sub-bituminous coal, 12.3% and 22.0% above the five-year averages for the month.

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