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DOE EIA Weekly Gas Storage Report

Working gas in storage was 3,369 Bcf as of Friday, October 8, 2021, according to EIA estimates.

This represents a net increase of 81 Bcf from the previous week. Stocks were 501 Bcf less than last year at this time and 174 Bcf below the five-year average of 3,543 Bcf. At 3,369 Bcf, total working gas is within the five-year historical range.

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Sharp surge in energy prices threatens economic recovery and is already slowing growth

We’ve seen countless material costs increase throughout the pandemic including skyrocketing fossil fuel rates.  Consumers are wondering how long prices will continue to rise especially in the northern US with winter fast approaching.

The lack of resources coupled with higher costs are affecting global supply chains. Oil and coal are making up for the lack of natural gas and wind power supplies but are also showing rising prices compared to last year.

The probability of a recession increases when energy prices are steadily moving towards a higher percentage of GDP. Global effects on supply chains also impact numbers and priorities for spending. How Americans choose to spend their money is forecasted to be different than past years. Where they cut back on costs will affect not just the industry but overall economic growth. Economists believe we don’t need to worry about a recession at this point but are concerned with how badly it can cause growth to be affected negatively.

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.cnbc.com/2021/10/12/sharp-surge-in-energy-prices-threatens-economic-recovery-and-is-already-slowing-growth.html 

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DOE EIA Weekly Gas Storage Report

Working gas in storage was 3,288 Bcf as of Friday, October 1, 2021, according to EIA estimates.

This represents a net increase of 118 Bcf from the previous week. Stocks were 532 Bcf less than last year at this time and 176 Bcf below the five-year average of 3,464 Bcf. At 3,288 Bcf, total working gas is within the five-year historical range.

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DOE EIA Weekly Gas Storage Report

Working gas in storage was 3,082 Bcf as of Friday, September 17, 2021, according to EIA estimates.

This represents a net increase of 76 Bcf from the previous week. Stocks were 589 Bcf less than last year at this time and 229 Bcf below the five-year average of 3,311 Bcf. At 3,082 Bcf, total working gas is within the five-year historical range.

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Looking to save money through an alternative gas supplier?

The MPSC posted a press release today regarding the Michigan Choice Program. Realgy along with the MPSC recommends customers review contract terms when enrolling in a new program to fully understand agreement details. They offer tips on how to ensure clear understanding of alternate offers.

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.michigan.gov/mpsc/0,9535,7-395-93307_93313_17280-568345–,00.html

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DOE EIA Weekly Gas Storage Report

Working gas in storage was 2,923 Bcf as of Friday, September 3, 2021, according to EIA estimates.

This represents a net increase of 52 Bcf from the previous week. Stocks were 592 Bcf less than last year at this time and 235 Bcf below the five-year average of 3,158 Bcf. At 2,923 Bcf, total working gas is within the five-year historical range.

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With energy bill in limbo, Ill. braces for nuclear closure

The shutdown of some of the USA’s largest coal plants in Illinois, Byron and Prairie State has been the subject of scrutiny. The discussion on the future of power plants surrounds a recently passed energy and climate bill.

Many supporting the legislation want the state to buckle down on ending fossil fuel usage by 2045. However, the bill didn’t include specifics on lessening emissions for electric generation until then. Amendments are underway regarding requirements of plants to reduce emissions by 2035 to transition toward the 2045 goal. Illinois’ Clean Jobs Coalition and Governor Pritzker support these revisions but, challenges lie in the finances and logistics.

Clean Jobs Illinois questions how to ensure jobs aren’t lost from closures and redirection into renewable energy positions. While the state has pledged to preserve jobs and decrease emissions, studies show phasing out locations would cause other plants to make up for lost production bringing about additional emissions. They also claim Illinois will not see renewable energy developments for years unless there is legislative action.

Advocates state we don’t have time to allow these plants to run for even 5 more years let alone the suggested 25 years. However, incentive funding from the Future Energy Jobs Act has already been depleted and new projects are down 90% compared to the last year. This bill needs to see both sides come to a compromise to reach our energy goals.

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.eenews.net/articles/with-energy-bill-in-limbo-ill-braces-for-nuclear-closure/

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DOE EIA Weekly Gas Storage Report

Working gas in storage was 2,871 Bcf as of Friday, August 27, 2021, according to EIA estimates.

This represents a net increase of 20 Bcf from the previous week. Stocks were 579 Bcf less than last year at this time and 222 Bcf below the five-year average of 3,093 Bcf. At 2,871 Bcf, total working gas is within the five-year historical range.

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Michigan Launches Inquest into Power Outages

Last week’s Michigan storms left over 1 million customers without power. Many were in the dark for over a week. Damage assessment and restoration are a priority as is planning and preparation for these disasters. Residents want to see improvement in all areas and the MPSC states “… we have more work to do, and we have to do it faster.”

Concerns aren’t limited to the Midwest and are voiced across the country since the increase in frequent, intense storms are apparent. We can’t rely solely on historical data to prepare for the ever-changing weather. The MPSC is pushing utilities to be more transparent around their efforts while encouraging customers to discuss impacts of outages, especially those that are more at risk.

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://thesuntimesnews.com/g/chelsea-mi/n/39406/state-launches-inquest-power-outages

 

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DOE EIA Weekly Gas Storage Report

Working gas in storage was 2,851 Bcf as of Friday, August 20, 2021, according to EIA estimates.

This represents a net increase of 29 Bcf from the previous week. Stocks were 563 Bcf less than last year at this time and 189 Bcf below the five-year average of 3,040 Bcf. At 2,851 Bcf, total working gas is within the five-year historical range.

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