Natural gas prices spike on cold weather and lowest early season supply in 15 years
Natural gas storage is at a 5 year low and we have a brief cold spell….so natural gas traders have run the market up.
In the graph below, the thick blue line is the current season… this is well below the 5 year average.
Natural gas prices have moved to their highest since Feb 2018.
…due to a little cold weather.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan, Indiana and Ohio. 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 Index, Fixed and PriceAssuranceTM.
Realgy owns and operates 7 solar plants in Illinois and is looking to invest in additional locations.
Additional Information:
http://www.thonline.com/news/tri-state/article_13b4f4e3-3b47-555c-a828-8e1ef4ffac2c.html
DOE EIA Weekly Gas Storage Report
Working gas in storage was 3,208 Bcf as of Friday, November 2, 2018, according to EIA estimates.
This represents a net increase of 65 Bcf from the previous week. Stocks were 580 Bcf less than last year at this time and 621 Bcf below the five-year average of 3,829 Bcf. At 3,208 Bcf, total working gas is below the five-year historical range.
New York Sues Exxon Mobil, Saying It Deceived Shareholders on Climate Change
Investigations of over 3 years held by New York’s attorney general resulted in the suing of Exxon Mobil. They believe the company schemed to deceive investors, analysts, and underwriters “by downplaying the expected risks of climate change to it’s business”. The suit claims Exxon defrauded shareholders by misleading them to believe the company took into consideration the effects of future climate regulations. The NY attorney general demands Exxon make restitution to investors and return the money it made off the alleged fraud.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan, Indiana and Ohio. 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 Index, Fixed and PriceAssuranceTM.
Realgy owns and operates 7 solar plants in Illinois and is looking to invest in additional locations.
Additional Information:
https://www.nytimes.com/2018/10/24/climate/exxon-lawsuit-climate-change.html?smtyp=cur&smid=tw-nytclimate
DOE EIA Weekly Gas Storage Report
Working gas in storage was 3,143 Bcf as of Friday, October 26, 2018, according to EIA estimates.
This represents a net increase of 48 Bcf from the previous week. Stocks were 623 Bcf less than last year at this time and 638 Bcf below the five-year average of 3,781 Bcf. At 3,143 Bcf, total working gas is below the five-year historical range.
Tesla Solar Roof production to ramp up
Orders have been placed for Tesla’s Solar Roof since May 2017. Appearing as a traditional roof, the glass tiles will generate electricity with embedded solar cells. Ensuring an inexpensive product that will last 30 years and have an efficient installation process requires considerable engineering. Tesla’s CEO, Elon Musk is hoping to put these on the map and begin fulfilling orders next year.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan, Indiana and Ohio. 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 Index, Fixed and PriceAssuranceTM.
Realgy owns and operates 7 solar plants in Illinois and is looking to invest in additional locations.
Additional Information:
https://www.cnet.com/news/tesla-solar-roof-production-to-ramp-up-in-2019-says-elon-musk/
ComEd spent $2.6 Billion; have you noticed any improvement?
Back in 2011, storms knocked out power to over 2.8 million ComEd customers. The average time to recover from the outage was 366 minutes.
Since then, ComEd spent over $2.6 Billion on its SmartGrid, an effort to bolster the resilience of the grid and its ability to recover from an outage.
Has it worked?
From 2012 through 2017, 19 storms have caused outages. The time to recover was 116 minutes.
To save 250 minutes of outage time, ComEd spent $10.4 million per minute. Yes, $10,400,000/minute.
ComEd is a monopoly, regulated by the Illinois Commerce Commission (ICC), which is entitled to recover expenditures that are prudently incurred to provide the essential service of electricity. Approved expenditures, like the SmartGrid, earn money because it was approved by the legislators (not the ICC) BEFORE it was even used. A utility like ComEd earns a guaranteed rate of return on money spent and approved.
No one likes to sit in the dark but, the saving of roughly 2 hours-per-outage recovery for $10.4 million is not prudent or cost effective, except to earn ComEd money.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan, Indiana and Ohio. 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 Index, Fixed and PriceAssuranceTM.
Realgy owns and operates 7 solar plants in Illinois and is looking to invest in additional locations.
Additional Information:
https://www.chicagobusiness.com/utilities/what-have-you-been-getting-all-your-comed-rate-hikes