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…

Natural Gas Storage Report Withdrawal Season Week 17 (Week Ending February 22, 2019)

As withdrawal season approaches its final month, this week’s slightly bearish pull of 166 Bcf ended up being much larger than normal when compared to last year’s draw of 85 Bcf and the five-year average of 104 Bcf for the same time period. The reporting period had little to show for any notable fundamental news, but the first week of March is expected to bring some cold risks that will…

Natural Gas Storage Report Withdrawal Season Week 16 (Week Ending February 15, 2019)

Since November, the 2018/2019 withdrawal season has seen quite the range of prompt month NYMEX swings, but after sixteen weeks into the season, prices seem to have finally leveled out. The somewhat bullish draw of 177 Bcf was slightly larger than most market expectations and historical values (134 Bcf last year and 148 for the five-year average) but shouldn’t do much to move the needle today. That being said, a…

The Big Picture on Reducing CO2 Emissions

Before getting into a new report showing an uptick in energy-related carbon dioxide emissions last year, let’s make sure we keep an eye on the big picture as it concerns U.S. CO2. These points: U.S. CO2 emissions have fallen to their lowest level in a generation – even as global emissions have risen 50 percent since 1990. The leading reason for this favorable trendline is increased use of natural gas in power generation.…

Natural Gas Storage Report Withdrawal Season Week 15 (Week Ending February 8, 2019)

Natural Gas Storage Report  Withdrawal Season Week 15 (Week Ending February 8, 2019) After last week’s hefty 237 Bcf withdrawal, this week’s slightly bearish 78 Bcf pull managed to fall short of all market expectations, last year’s 183 Bcf draw, and the five-year average of 160 Bcf for the same time period. The aftermath of the short-lived polar vortex has indicated that supply over the reporting week was affected by freeze-offs…

Natural Gas Storage Report Withdrawal Season Week 14 (Week Ending February 1, 2019)

At first glance, this week’s mostly bearish withdrawal of 237 Bcf may seem imposing, but the abrupt end of the polar vortex that swept across the Midwest and parts of the Northeast during this reporting period was cause for the market to slope slowly downward. Warmer weather made itself known almost immediately after a couple of nearly record-setting cold shots in the previously mentioned regions, and the March-April spread on…