Natural Gas Storage Report Withdrawal Season Week 22 (Week Ending March 29, 2019)

Withdrawal season is over as of today, and after a long and volatile winter that saw NYMEX futures nearly hit $5/MMBtu in November of 2018, storage inventories reported an injection of 23 Bcf that reflects a bearish background state in the market, especially when compared to last year’s value and the five-year average for the same time period, which were reported as withdrawals of 34 Bcf and 23 Bcf respectively.…

ENERGY MARKET UPDATE – 4/1/2019

Heating Oil Prompt-month heating oil futures increased 0.23% for the week ending Friday, 3/29, as prices rose $0.0046 per gallon. On the New York Mercantile Exchange, crude futures for delivery in April closed at $60.14 per barrel on Friday, 3/29, up 1.02% for the day, and up 1.86% for the week. Crude oil prices rose steadily last week and continued to increase on Monday, trading above $61 a barrel. Manufacturing…

Natural Gas Storage Report Withdrawal Season Week 21 (Week Ending March 22, 2019)

With withdrawal season officially coming to a close after next week’s report, the current and slightly bullish pull of 36 Bcf is certainly embracing the recent influx of milder weather during the shoulder season so far. Falling short of both last year’s 66 Bcf draw and the five-year average of 41 Bcf, this light withdrawal is indicative of dry gas production continuing to be robust as usual while fundamental factors…

5 Key Strategies for Negotiating Renewable Energy Project EPC Contracts

With renewable energy tax credits for wind and solar technologies set to expire in the coming years, the industry has seen a recent surge in investment and development to capture these valuable tax benefits. One crucial agreement to almost every renewable energy development project is the engineering, procurement and construction (EPC) contract. At the 2019 Renewable Energy Law Conference in Austin hosted by The University of Texas School of Law,…

Natural Gas Storage Report Withdrawal Season Week 20 (Week Ending March 15, 2019)

Despite the 4 Bcf revision implemented into the working gas inventories that shifted last week’s value from 204 to 200 Bcf, the current withdrawal of 47 Bcf fell in line with market expectations while coming up short against last year’s 87 Bcf pull and the five-year average of 56 Bcf. All things considered, this draw is essentially a non-event due to the eventual approach of injection season, bifurcating weather patterns…

Currents – Energy Industry Insights – March 2019

U.S. Senate Committee to Discuss Climate Change, Electricity Changes – “U.S. Sen. Joe Manchin, D-W.Va., said the hearing of the Senate Committee on Energy and Natural Resources is aimed at putting lawmakers and federal agencies on the same page on addressing climate change and a global energy marketplace.” Why this is important: It was anticipated the House of Representatives would make climate change a priority once the Democrats were back…

Natural Gas Storage Report Withdrawal Season Week 19 (Week Ending March 8, 2019)

Winter decided it wasn’t done yet as the Northeast and parts of the Plains were hit with a cold and snowy weather system last week, resulting in a 204 Bcf withdrawal that significantly widened deficits against last year’s inventories and draw of 88 Bcf along with the five-year average inventories and 99 Bcf pull for the same time period. Not only that, the daily power prices in the aforementioned regions…

Clean energy proposals gain steam in several states

CLEAN ENERGY: Minnesota Gov. Tim Walz announces a plan to move the state to 100 percent carbon-free electricity by 2050 as legislation in Illinois goes further by omitting nuclear power. (Minnesota Public Radio, Greentech Media) ALSO: • A group of Democratic lawmakers propose California spend $100 billion over the next 12 years to dramatically curtail carbon emissions and boost clean energy. (Associated Press) • A bill that aims to phase out coal and increase clean energy use in New Mexico is…

Natural Gas Storage Report Withdrawal Season Week 18 (Week Ending March 1, 2019)

Another larger-than-expected withdrawal came to pass this week as the EIA reported a slightly bullish pull of 149 Bcf that dwarfed both last year’s draw of 60 Bcf and the five-year average of 109 Bcf. With March now upon us, cold shots concentrated in the central, northern, and eastern U.S. are bringing expectations for yet another triple digit dip into storage for next week, but much like the polar vortex…

Can smart thermostats really help save money on your energy bill?

Energy bills are often a sore point for many homeowners. Whether it’s the middle of a sweltering summer or the dead of winter, it seems our heating and cooling costs increase year after year. But more Canadians are turning to smart home technology to make their homes more efficient and eco-friendly. According to a recent study commissioned by Telus, one of the greatest perceived benefits of living in a “smarter” home includes saving…