DOE EIA Weekly Gas Storage Report
Here is this weeks EIA natural gas storage report. Working gas in storage was 3,880 Bcf as of Friday, December 4, 2015, according to EIA estimates. This represents a net decline of 76 Bcf from the previous week. Stocks were 514 Bcf higher than last year at this time and 236 Bcf above the five-year average of 3,644 Bcf. At 3,880 Bcf, total working gas is above the five-year historical range.
US EIA to estimate 61-Bcf withdrawal:
vs
Actual 76 Bcf
A consensus of analysts surveyed by Platts expects the US Energy Information Administration on Thursday will estimate a natural gas storage withdrawal of between 59 Bcf and 63 Bcf for the reporting week that ended December 4. The EIA plans to announce its storage report at 10:30 a.m. EST Thursday. Withdrawal within expectations would be more than the 47-Bcf withdrawal reported at this time in 2014 and less than the 65-Bcf five year average withdrawal, according to EIA data. The wider range of analysts’ expectations for this week was for a withdrawal ranging from 48 Bcf to 67 Bcf. Last week, the EIA reported a 53-Bcf withdrawal that decreased inventories to 3.956 Tcf, which was 543 Bcf, or 15.9%, more than the year-ago inventory of 3.413 Tcf, but 247 Bcf, or 6.7%, more than the five-year average of 3.709 Tcf.
Midwest Winter 2015/16 Weather Forecast (in December)
…and it’s good news. (Waiting til forecast winter until December helps the forecast vs. October)
For the last two winters, we set records for cold. This year’s forecast is for a near Normal winter.
It might not get you Florida in January but it’s better than a stick-in-the-eye!
Michigan energy overhaul won’t happen in 2015
…and now for the grownups.
Michigan Senate leaders say they won’t get legislation through the senate this year.
This is very good news, as the House passed energy legislation without reading it: http://realgyenergyservices.com/michigan-energy-policy-is-moving-forward-to-higher-costs-under-full-monopoly-control/
Hopefully, given time to review, the senate will reverse the House and pass meaningful energy legislation.
When you see your Senator, thank them for taking the time to read the legislation before passing it!
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan and Indiana. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM and Index, Fixed pricing.
Additional information
MI Consumers Energy Electric prices are increasing
Consumers Energy, the regulated utility monopoly, has received permission from the MI Public Service Commission (MPSC) to raise prices.
Consumers Energy, as a regulated monopoly, must show that its costs have increased thereby justifying a cost increase. The MPSC acts to ensure that utilities, which operate as a monopoly, have oversight over their expenditures. The MPSC must certify that expenditures are used to actually provide or improve service to customers. Once approved by the MPSC, the utility will collect the increase on your next bill.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan and Indiana. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM and Index, Fixed pricing.
Additional information:
http://detroit.cbslocal.com/2015/11/19/consumers-energy-electric-customers-to-see-rate-increase/
Michigan energy policy is moving forward….to higher costs under full monopoly control
As previously noted, the MI House Energy Committee voted on three bills without reading them. These bills were sent to the full House for a vote.
Where do they stand now:
- Electric Energy Choice: currently, 10% of MI customers can choose an electric energy supplier. The result has been millions of $$ dollars in savings. House Bill would have imposed non-commercial requirements on the energy marketers causing them to withdraw from offering customers an alternative to the utility.
- As of now, 10% would stay in place BUT customers would be barred from switching for 15 YEARS! What choice is this?
- Energy suppliers will face additional regulatory requirements that would do nothing more than raise their cost to provide service, thereby limiting customer savings.
- Thirty percent (30%) renewable energy goal by 2025. This “goal” has no enforcements. Currently, MI is achieving a 1.5% efficiency gain per year. So this a net increase of 5%. A token nod to a cleaner environment and improved energy efficiency.
MI must hope that the MI Senate counters this energy policy with a policy that encourages market competition and clean energy production.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan and Indiana. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM and Index, Fixed pricing.
Additional information
DOE Eia Weekly Gas Storage Report
Working gas in storage was 4,000 Bcf as of Friday, November 13, 2015, according to EIA estimates. This represents a net increase of 15 Bcf from the previous week. Stocks were 404 Bcf higher than last year at this time and 207 Bcf above the five-year average of 3,793 Bcf. At 4,000 Bcf, total working gas is above the five-year historical range.
Survey predicts storage to hit historic 4 Tcf level
- EIA storage estimate gets an overhaul
- 4-plus Tcf becomes the new normal
Actual 15 Bcf.
The U.S. Energy Information Administration on Thursday is expected to report a natural gas storage injection between 17 and 21 Bcf for the week that ended November 13, according to a Platts’ survey of analysts. If the injection comes in as expected, storage levels will crack the 4-Tcf level, an all-time record. An injection within expectations would be more than the 9-Bcf withdrawal reported at this time last year and more than the 12-Bcf five-year average withdrawal, according to EIA data. Last week, the EIA reported a 54-Bcf injection that increased inventories to 3.985 Tcf, which was 379 Bcf, or 10%, more than the year-ago inventory of 3.606 Tcf, and 180 Bcf, or 4.7%, more than the five-year average of 3.805 Tcf.
