www.fueloilnews.com | FUEL OIL NEWS | FEBRUARY 2014 15
most of the country and the Henry Hub price averaged about
$0.60/MMBtu higher than the previous month's average.
Price effects were also seen in regional markets, particularly
in New England. At the Algonquin Citygate, which serves
Boston consumers, prices spiked to $33.14/MMBtu on
Friday, December 13.
U.S. Electricity Retail Prices
The rising cost of generation fuels, particularly natural gas,
contributes to a projected increase in the residential price of
electricity. EIA expects the U.S. residential price of electricity to
average 12.4 cents/kWh during 2014, an increase of 2.0% from
2013. Residential electricity prices increase 2.0% during 2015.
U.S. Liquid Biofuels.
Ethanol and biodiesel production have recovered from
last year's drought. Ethanol production increased from an
average of 825,000 bbl/d in December 2012 to an estimated
920,000 bbl/d during December 2013 and is forecast to average
913,000 bbl/d during 2014. Biodiesel production, which aver-
aged 64,000 bbl/d (1.0 billion gallons per year) in 2012, rose
to a record-high level of 101,000 bbl/d (132 million gallons)
in October 2013. Biodiesel production averaged about 87,000
bbl/d in 2013 and is forecast to average 84,000 bbl/d in both
2014 and 2015.
