Energy M&A Update: Q1 2025

At the end of Q1 2025, US crude oil production rose to 13.4 million barrels per day, down less than 0.1 million barrels per day from Q4 2024.

Energy and resources trends

  • Oil and gas
    In the US Energy Information Administration’s (EIA) April 2025 short-term energy outlook, US natural gas prices averaged $4.30/MMBtu in Q1 2025, which is $2.10 more than in Q1 2024.1
  • Renewable energy
    The Federal Energy Regulatory Commission (FERC) announced that renewables accounted for 98.4% of new generating capacity in the United States in January 2025 with solar adding 3.0 GW of capacity and representing year-to-date additions to capacity that were 150.4% higher than in January 2024.2
  • Power and utilities
    Net utility-scale electricity generation in the United States increased 5.5% in January 2025 compared to January 2024. Year-over-year revenue per kWh grew in commercial (3.0%), residential (3.3%), and industrial (2.7%) end-use sectors.3
  • Nuclear energy
    In March 2025, the US Department of Energy released $56.8 million of a $1.5 billion loan guarantee to Holtec International to restart the Palisades Nuclear Plant.4

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References

1. US Energy Information Administration (EIA), “Short-term energy outlook,” as of April 2025.
2. Kelsey Misbrener, “Renewables made up almost 100% of new generating capacity in January 2025,” Solar Power World, March 20, 2025.
3. EIA, “Electricity monthly update,” as of March 2025.
4. Spencer Kimball, “Michigan nuclear plant shows the challenges the U.S. will face in safely restarting old reactors,” March 22, 2025.
 

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