The image above may be the first thing that comes to mind when your hear natural gas but the process of finding, extracting and producing natural gas is much more complex than just turning on your stove. Natural gas is primarily made up of methane, a compound with one carbon atom and four hydrogen atoms.
In general, the two main drivers of wholesale electricity prices in New England are the cost of fuel used to produce electricity and consumer demand. Power Plant Fuel: Natural gas dominates electricity generation in New England, accounting for 52% of total power production in 2022. This reliance on natural gas makes wholesale electricity prices closely
Hurricanes and tropical storms can have significant effects on the energy market due to their potential to disrupt both the supply and demand sides of natural gas and electricity.
If you live in the Northeast, you’ve certainly experienced a summer heatwave. On these days, commercial and residential buildings all have their air conditioning units on high. This increases the amount of usage and demand for electricity on the grid. When these heatwaves sustain for multiple days, the grid eventually reaches its highest amount of
The process of flipping a light switch involves a complex energy system that ensures electricity reaches its intended destination reliably and safely. Electricity flows from the point of generation through the grid and eventually reaches buildings when devices are turned on. This system has been developed over many years to prevent surges or accidents. Understanding
As mentioned in last week’s blog, the ISO defines your capacity costs – Managing your usage at these times is crucial to lowering costs on your bills. There are steps you can take to curtail your usage during peak demand times (usually the hottest days of the year) so your capacity tag reads a significantly
Summer is officially here and with that comes heat and more electricity usage for your business. Did you know that curtailing your usage on certain summer days, for only a couple of hours can reduce your annual energy spend? – That is why it is very important to look at when your energy is used.
You may hear your Energy Advisor refer to the ISO – Independent System Operator. The ISO is a non-profit organization authorized by the Federal Energy Regulatory Commission (FERC) responsible for managing and operating the electric grid for a specific region. At Best Practice Energy we serve various ISOs, including: ISO-NE – New England
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
