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Natural gas surges 14% as cold snap ahead is expected to boost demand

US natural gas futures surged 14% in early January 2022. This is on top of recent increases beginning in the fall of last year. In early October into November 2021 oil and natural gas prices surged.

Natural gas is a commodity purchased from suppliers (including utilities) at published prices. Typically, the price referenced is the NYMEX. All natural gas suppliers are impacted by the same cost increase. However, some suppliers such as utilities can delay the impact due to their regulatory price recovery. This can be understood when utilities do not share storage with their third-party suppliers. Natural gas in storage will not increase when the market price does. Those utilities can appear to have a lower price when in fact they just bought the gas during the summer and stored it. Michigan utilities operate like this; they do not provide their customer choosing a gas supplier with their share of storage volume. Therefore, the energy suppliers in Michigan cannot readily offer storage to their customer. Illinois utilities share their storage volumes equally between choice and tariff customers. Therefore, Illinois customer choice customers have nearly 20% of their winter gas purchased during the summer. Realgy calls this our Storage Program see Storage – Realgy Energy Services.

Natural gas pricing was not expected to rise significantly. However, Covid, weather, and consumer behaviors changed that forecast.

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. Currently we are in construction of our 8th project with the park district of Highland Park.

Additional Information:

How Will the Natural Gas Shortage Impact Fuel Dealers and Homeowners? – OILMAN Magazine

Natural gas surges 14% as cold snap ahead is expected to boost demand (cnbc.com)

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DOE EIA Weekly Gas Storage Report

Working gas in storage was 3,016 Bcf as of Friday, January 7, 2022, according to EIA estimates.

This represents a net decrease of 179 Bcf from the previous week. Stocks were 199 Bcf less than last year at this time and 72 Bcf above the five-year average of 2,944 Bcf. At 3,016 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 3,618 Bcf as of Friday, November 5, 2021, according to EIA estimates.

This represents a net increase of 7 Bcf from the previous week. Stocks were 308 Bcf less than last year at this time and 119 Bcf below the five-year average of 3,737 Bcf. At 3,618 Bcf, total working gas is within the five-year historical range.

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Realgy Wins Award For 2020 Lowest Residential Electricity Rate in Illinois

PRESS RELEASE

Realgy Wins Award For 2020 Lowest Residential Electricity Rate in Illinois

11 NOVEMBER 2021 | BY: REALGY, LLC

 

Energy research group Find Energy highlights outstanding electricity companies throughout the country. They recently announced Realgy Energy Services won the coveted award for Lowest Residential Rate in Illinois for 2020.

Data compiled found Realgy’s average residential rate was more than 35% below the national average. Find Energy also reported Realgy’s residential customer bills are about 22% lower than the US average.

President Michael Vrtis says, “This is a testament to our operations team’s commitment to uphold competitive prices and our customer care team’s dedication to providing top service. We appreciate our community and their continued business allowing us to best serve the state of Illinois.”

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://findenergy.com/providers/realgy-energy-services/

 

 

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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/

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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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Natural gas spikes during winter storm and regulatory commission wont require disclosure of pricing

The Polar Vortex of February 2021 sparked numerous lawsuits and multiple investigations at nearly every Government level. Consider Kansas.

The Kansas Attorney General is investigating the price spike and looking to enforce the states prohibition against anti-profiteering law.

However, the Kansas Corporation Commission (oversees regulatory matters) denied two motions of the anti-profiteering investigation.

Consider this statement from an oversight commission whose job includes ensuring open and fair price disclosure.

The commission said the consumer coalition “has not demonstrated that disclosure will benefit the public interest,” and release of the proprietary information has “great potential to harm current and future Kansas natural gas customers through higher purchased gas costs. A general argument in favor of transparency cannot outweigh this very real harm to customers.”

Yes, the commission responsible for regulatory oversight has said disclosure of pricing during the polar vortex COULD HARM customers. Mind you, the pricing has already been paid and this request is to see what contributed to the higher prices.

The principal role of a utility oversight board is to investigate pricing. Kansas Corporation Commission appears to stand alone in not wanting disclosure.

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: Kansas AG says winter storm natural gas prices appear illegal (salina.com)

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