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