US Approves 1st Major Offshore Wind Energy Project
The United States joined the rest of the world and issued final permits allowing for the development of large-scale offshore wind projects.
Large scale: 62 turbines standing 90 stories above the water with underground cables bringing electricity onshore to 400,000 homes. The turbines will be located about a mile off the coast of Massachusetts.
Wind power is the least costly energy power to build and the new turbines from General Electric are the largest available.
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.npr.org/2021/05/11/995852356/biden-administration-approves-first-major-offshore-wind-energy-project
$8.3 Billion Proposal for Addressing Texas Blackouts
Berkshire Hathaway is a public company that owns several utilities. Their proposal illustrates the difference between a company taking risks versus a utility.
Berkshire is proposing the Texas Grid operator (utility oversight company) build a gas-fired power plant that would be weather normalized and fixed to support a large portion of Texas’ energy demands. Berkshire is proposing to spend $8.3 billion to build this plant.
The cost: Berkshire would earn what a Texas utility earns on investments which is 9.3%.
So, Berkshire like any utility in Texas that receives regulatory approval, earns a return regardless of whether what they build works.
Berkshire as a public company takes risks building and operating businesses such as Dairy Queen, Burlington Northern Railroad, or Sherwin-Williams. Any investment in these businesses comes with no guaranteed return.
EVERY utility makes money by spending money to provide service. The Texas Grid operator will undoubtedly not accept this proposal but, it does show the difference between private businesses and utilities.
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.msn.com/en-us/money/markets/buffett-s-berkshire-floats-8-3-billion-fix-for-texas-grid/ar-BB1eXRHl?ocid=spartan-ntp-feeds
DOE EIA Weekly Gas Storage Report
Working gas in storage was 1,793 Bcf as of Friday, March 5, 2021, according to EIA estimates.
This represents a net decrease of 52 Bcf from the previous week. Stocks were 257 Bcf less than last year at this time and 141 Bcf below the five-year average of 1,934 Bcf. At 1,793 Bcf, total working gas is within the five-year historical range.
A solar panel in space is collecting energy that could one day be beamed to anywhere on Earth
Launched in May 2020, a panel attached to an unmanned drone has been looping Earth to harness the sun’s light to convert to electricity. Technology to focus power directly back to Earth has already been studied and proven possible. This prototype could, once scaled up, revolutionize energy generation and distribution around the world. Experimental results point to this being a feasible option to receive energy in the future. Funded by the Pentagon, costs are always of a concern but prices to create the panels have been decreasing. The amount of people this could help in remote areas or during natural disasters is a large incentive to backing this project.
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.cnn.com/2021/02/23/americas/space-solar-energy-pentagon-science-scn-intl/index.html
Brutal Cold grips central United States
Temperatures have dropped more than 40° below the average.
Power costs have soared from $4 / MWh to over $600 / MWh.
Most of the news we are seeing is coming from Texas for several reasons:
- Well, it is really cold; well below freezing for nearly 5 days.
- Texas is a power island. They have no connections outside of Texas so, other states cannot supply power for them.
- Texas’ energy infrastructure is not built for freezing temperatures. This results in water main breaks, gas pipes freezing, and power equipment not operating properly.
Outside of Texas the Polar Vortex will have economic impact but, electricity and gas are generally staying on.
If your power or heat is interrupted, CALL your local utility.
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/interactive/2021/02/16/us/winter-storm-texas-power-outage-map.html?action=click&module=Spotlight&pgtype=Homepage
How Extreme Cold Turned Into a U.S. Energy Crisis
Over the past several days, extraordinary cold weather in the US from a polar vortex caused record temperatures across the country. Electricity and heating fuel costs skyrocketed while energy demand hit record levels. Millions of customers dealt with blackouts for the first time in a decade. Gas lines seized, wind turbines froze, and oil wells shut in. Across the grid in Texas, all energy sources had problems with some reasons still unknown. Texas’s emergency state will allow for more resources to become available and ensure residences, medical facilities, and related consumers are the priority to receive fuel first. The energy market in Texas is one of the most competitive in the US and power providers have to be prepared for extreme events such as this one. If not, they are set up for failure. Texas and Washington policy makers may need to review their system and make some changes to ensure a similar crisis is prevented or handled better.
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.bloomberg.com/news/articles/2021-02-15/how-extreme-cold-turned-into-a-u-s-energy-crisis-quicktake
DOE EIA Weekly Gas Storage Report
Working gas in storage was 3,196 Bcf as of Friday, January 8, 2021, according to EIA estimates.
This represents a net decrease of 134 Bcf from the previous week. Stocks were 126 Bcf higher than last year at this time and 218 Bcf above the five-year average of 2,978 Bcf. At 3,196 Bcf, total working gas is within the five-year historical range.
Tips to Lower Your Utilities This Winter
Here’s your bi-annual reminder to make some improvements around your home or business to save money on utility bills. Winter brings about colder weather for most of us North Americans and with that comes an increase in energy usage. There are more ways to conserve than just turning down the thermostat. You can seal any air leaks around windows and doors. Try to also keep them closed as much as possible to prevent losing the warm air created inside. Use the sun to your benefit by keeping curtains open to let the warm sunlight in but, keep them closed at night to reduce heat loss. Insulating your water heater and using your fireplace and oven will also be to your advantage. Among other tips, you can check out your utility’s website to find incentives and home assessments to see where you might be able to increase energy efficiency and savings .
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://ourcommunitynow.com/home-and-garden/start-a-winter-garden-to-keep-the-blues-away
DOE EIA Weekly Gas Storage Report
Working gas in storage was 3,330 Bcf as of Friday, January 1, 2021, according to EIA estimates.
This represents a net decrease of 130 Bcf from the previous week. Stocks were 138 Bcf higher than last year at this time and 201 Bcf above the five-year average of 3,129 Bcf. At 3,330 Bcf, total working gas is within the five-year historical range.
Holiday Goals
Previously commended for safe practices, our sales agents have been excelling despite Covid-19 restrictions. The end of 2020 saw an increase in sales with our representatives exceeding their goals. Through an incentive program titled “Christmas Cookie”, targets were met by multiple team members. If the team member hit the target, they received a “cookie” in the form of a check. If they exceeded the target, they received an even bigger “cookie”. We had 2 recipients of the “Big Cookie” and 3 received the “Small Cookie” prizes. In true holiday spirit and to their surprise, all members received a small “cookie” for working a full schedule after the contest reached completion. A similar incentive was created for the week of New Year’s and we had the same outcome of agents reaching their targets. We are off to a good start in 2021 and wish everyone the same. Happy New 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.