What Are US Electricity Consumption Forecasts for 2017?

According to the US EIA‘s (Energy Information Administration) Short-Term Energy Outlook for January 2017, the average residential customer will consume 3% more electricity between December 2016 to March 2017 compared to the same period last year. However, this estimate is highly dependent on winter temperatures.

Total electricity consumption in 2016 was 1.2% lower than in 2015. Higher consumption in 4Q16 may positively impact utilities’ (XLU) (VPU) earnings.