In New England, there are two main drivers of wholesale electricity prices – cost of fuel and demand. Cost of Fuel Natural gas is the principal fuel source used to produce electricity. Natural Gas has made up 52% of the electricity used in New England this past year. As a result, average wholesale electricity prices
A basic question but to successfully navigate the energy market can be a complex answer. Simply put, energy procurement is the process of sourcing and acquiring electric and natural gas for your businesses. A number of factors determine your price – natural gas, weather, capacity, transmission costs, and the list goes on. It is important
We talk about the weather’s effect on the energy market a lot here at BPE. Here are a few ways weather can influence energy prices: Heating and Cooling Demand Weather conditions directly affect the demand for heating and cooling in residential and commercial buildings. When we see extremely cold or warm temperatures, the demand for
As we head into the last weekend of February, New England is shaking off Winter Storm Olive which brought snow, rain, and strong winds to the region. Overall, February’s mild temperatures in the Northeast and Midwest has kept natural gas storage withdrawals to a minimum. Yesterday saw a 71 Bcf withdrawal according to the U.S.
Last week, natural gas fell to the lowest we’ve seen since December 2021 trading below $4.00/mmbtu. An increase in domestic supply and above average temperatures in the Midwest and East Coast are playing a major role. Have we seen natural gas reach a floor price for the winter? Winter? What winter? Weather continues to be
December’s temperature outlook has shifted into a much “warmer than normal” trend for the East Coast and Midwest. Weather has been a considerable influence in the market of late and day to day forecasts have a significant role in market volatility. For more insight on the electric and natural gas markets, feel free to send
Through strategic curtailment, you can significantly reduce your capacity rate and, thus, your entire electricity bill!
Watch our webinar to learn about capacity or electricity demand, the second largest portion of an electricity price.
Discover the building blocks of an electricity bill and how tailored strategies for each component lead to cost avoidance.
What are the different ways to purchase energy? Which is the right choice for your business?
