[We have contradicting reports issued by the Federal Energy Regulatory Commission (FERC) and the International Energy Agency (IEA). Whom are we to believe? If FERC is misleading the public, the results could be disastrous, so it is tempting to believe their report. But the IEA has the mandate to warn of energy problems and call for corrective measures. Furthermore, the IEA has a history of being over-optimistic about future energy production, so why the dissonant note of pessimism?
On the surface, there is no way of telling which statement to heed. Of course, if we heed the FERC statement and there is a power failure, we will be caught with our pants down. On the other hand, if we deem the IEA statement valid and there is no summer power failure, we will simply have acted cautiously and conservatively. Which would be the better situation to find ourselves in? --DAP (FTW Science Editor)]
IEA Warns of Coming Power Failures
http://www.energycentral.com/centers/news/daily/article.cfm?aid=5652038
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May 07 - United Press International The Paris-based International Energy Agency has said Europe and North America could face power blackouts this summer.
The agency said utility groups have failed to invest enough in electricity generation and transmission capacity, the Financial Times reported Saturday. Energy companies are also underinvesting in new oil and gas production capacity by up to 20 percent, the IEA said.
London, New York and several cities across southern Europe have experienced large-scale power failures during the past three summers because growing numbers of air-conditioners have driven demand to peak levels.
Fatih Birol, IEA chief economist, said electricity generation capacity in the European Union's 25 member states increased by only 1 percent last year -- less than half the 2.3 percent increase in electricity demand.
Birol said the trend in the European power sector was mirrored by trends in North America and much of the developing world.
FERC sees higher summer power prices
http://www.energycentral.com/centers/news/daily/article.cfm?aid=5645138
In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.
WASHINGTON, May 04, 2005: The Federal Energy Regulatory Commission said Wednesday that most of the United States will have adequate electricity supplies this summer, but that parts of Connecticut continue to struggle with tight supplies. The commission, in its annual summer assessment, warned that the outlook for hydroelectric supplies in the western states was "not good" due to lingering drought in the Northwest, and that rising fossil fuel prices would likely drive up the cost of electricity bills nationwide.
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IEA Warns of Coming Power Failures