BP Market Update
It is estimated that the wholesale price of natural gas at “benchmark” Henry Hub will average $3.92 per million British thermal units (MMBtu) in 2022, an eight-year high, and will average $3.60/MMBtu throughout 2023. These spiking prices will put more pressure on drilling and production of Natural Gas.
Events in Ukraine have caused oil prices to skyrocket, The Russian Invasion caused an almost instantaneous global supply shock. Russia is one of the biggest oil producers in the world. As its attacks in Ukraine intensified, traders, shippers and financiers shunned Russian oil, removing much of it from the daily global supply. Roughly 8% of U.S. imports of crude oil and refined products came from Russia last year. For Americans already navigating inflation, the current crisis is likely going to push prices up before they come down.
Ameren Illinois, Nicor Gas customers should expect higher heating bills this winter
U.S. homeowners will see heating prices increase by as much as 54% according to the EIA. Ameren and Nicor are already warning Illinois customers to expect 30% higher bills. High demand, low supply, weather impacts, and natural gas inflation are forecast to cause commodity pricing to be the most expensive it’s been since 2008.
The utilities expect their cost to be 75% higher per therm this winter. If we have a milder winter, pricing impact should be lower. However, there are various ways to assist customers such as purchasing gas when it’s cheaper in the summer, energy savings tips, and payment and budget plans.
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.centralillinoisproud.com/news/local-news/ameren-illinois-nicor-gas-customers-should-expect-higher-heating-bills-this-winter/
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
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
An $11 trillion global hydrogen energy boom is coming.
Long ago, oil and coal were discovered as useful when burned. This started us down the path of building a carbon and fossil-fueled economic world. Carbon is released when fossil fuels combust. Carbon monoxide (CO) and carbon dioxide (CO2) are known greenhouse gases.
Hydrogen is not naturally occurring like coal and oil. No dinosaurs died and decomposed into hydrogen. Remember that water is oxygen with two hydrogen atoms (H20). So, hydrogen exists in large quantities and can be readily separated from water and natural gas.
Like any fuel, storage issues must be addressed along with economic considerations. Just as technology investments caused wind and solar to become the power generation choice over coal and gas-fired generation. Technology has advanced to the point that a hydrogen energy cycle (extraction, storage, combustion, and conversion to electricity) is economic. The hydrogen option is becoming especially advantageous to countries that don’t have fossil fuels to extract. Fortunately, they have water and access to natural gas as alternatives to create hydrogen.
As electricity usage grows (powering cars, trucks, etc.) and climate change is addressed, alternatives to the carbon power cycle are needed. Technology has already made wind and solar the power generating choice for many. Hydrogen seems poised to add to the solution.
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/2020/11/01/how-salt-caverns-may-trigger-11-trillion-hydrogen-energy-boom-.html
One company’s grand plan to help suppliers club together to buy green energy
What do long-term global or local businesses do when they see a problem? They solve it.
Climate change impacts lives today and is forecasted to accelerate its negative impact through increased storms, draught, fire, and hurricanes. Using the tools and abilities within their disposal, governments and businesses have responded to face this challenge.
Governments around the world agreed collectively to reduce emissions; see the Paris Agreement. The goal is for each country to reduce its emissions over 50 years.
Businesses are moving to reduce their carbon emissions by committing to renewable energy. A large company example is Walmart. In 2005, Hurricane Katrina devastated New Orleans and Walmart committed to sustainable energy. Fast forward to 2020, that commitment has translated to reduced waste and 29% of its electricity coming from renewables. Walmart’s aim is to use its initiative to create an alliance of companies that commit to renewable energy regardless of size called the Renewable Energy Buyers Alliance.
Seeing a problem and addressing it provides for opportunities. Walmart is reducing costs to operate its business while reducing waste and greenhouse gases that contribute to global warming. Win-Win-Win.
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/2020/10/23/walmart-wants-suppliers-to-buy-renewable-energy-collectively.html
Fossil Fuels Make Up 84 Percent Of The Global Energy Market
BP released it’s annual report of global energy data. A new record in energy consumption was set for the 10th consecutive year. Fossil fuels still account for the primary energy consumption globally with oil, coal, and natural gas. Unfortunately, emissions has grown again but coal usage has decreased to the lowest level in 16 years. Green energy was the largest share of the increase overall, with wind being the largest contributor and solar a close second. While the U.S. and Germany had the largest decline in consumption growth worldwide, China’s consumption of renewables was the highest with the US and Japan following behind.
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://oilprice.com/Energy/Energy-General/Fossil-Fuels-Make-Up-84-Percent-Of-The-Global-Energy-Market.html
Oil Companies Are Collapsing, but Wind and Solar Energy Keep Growing
Despite delays and layoffs triggered by the coronavirus, the renewable energy sector is doing well. Wind and solar usage has increased and is forecasted to continue growing. 2020 is on track to breaking even more records within this sector. Projections at this rate show that 20% of all US electricity by 2030 will be solar generated; driving billions into the US economy while offsetting 35% of all electricity emissions.
Along with the utilization of other green energy sources, we will see lower bills and great environmental and health benefits. With constant changes, there will be adjustments in government policies and regulations. Hopefully we can ensure these will benefit all areas and people from various incomes and backgrounds.
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.forbes.com/sites/energyinnovation/2020/01/13/five-2020-energy-predictions-solar-surge-coal-crash-gas-exorcism-clean-energy-incentives-public-mobilization/#3e8f68e51ece
Coronavirus And Slumping Prices Hit Ohio Valley’s Oil & Gas Sector
The entire world has been adjusting during the coronavirus outbreak. Many companies that contribute greatly to the economy are facing challenges to stay in business. The changes in energy demand have led to the sector taking a huge hit with oil and natural gas prices dropping drastically. Construction has been put on hold, jobs have been altered, and the extent of damages done by this pandemic is still a shifting status. Oil and gas producers may seek a bailout and lawmakers are being asked to alter the Jones Act to ease requirements.
Utilities have been suspending their disconnection policies and are ensuring they prioritize safety to stop the spread of the virus. The Public Utilities Commission of Ohio (PUCO) is requiring this of the entire state. The impact of this virus is affecting everyone in various ways and PUCO is prioritizing that their residents will not go without shelter, water, food, heat, and communication. We commend all essential workers that are putting their lives at risk to ensure citizens are safe and receiving more than just the necessities of life.
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://wfpl.org/coronavirus-and-slumping-prices-hit-ohio-valleys-oil-gas-sector/
Looking Back
As we prepare to ring in the new year, most are looking back on an incredible year of innovations and historical moments. Events such as these do not occur without hard work, inspiration, and dedication. Look back at the last year and relish the ups and downs, the hurdles and accomplishments; whether minor or grand, know that 2019 set the precedence for our future. And it sure is looking bright.
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://realgyenergyservices.com/illinois-100-clean-energy-bill/
https://realgyenergyservices.com/midwest-groundcovers-completes-addition-to-solar-power-project/
https://realgyenergyservices.com/transforming-energy-education-in-the-digital-age/
https://realgyenergyservices.com/wind-energy-supplies-nearly-7-of-us-electric-demand/
https://realgyenergyservices.com/powerhouse-building-produces-more-energy-than-it-needs/