On June Tuesday 21st, 2022, National Grid announced its new service rates for August, September, and October. These new rates, which are roughly double the current rate, are slotted in at 23 cents per kWh for August, 21 cents per kWh for September, and 20 cents per kWh for October.
Natural gas prices have dropped 17% to $7.251/mmBtu after Freeport LNG announced that they will not be back to being fully operational until the end of 2022. Freeport LNG is the second-largest in the nation in exports of LNG. Freeport LNG made this announcement in an email following last week’s explosion and fire to their….
Throughout the first four months of 2022, the United States has exported 74% of its liquefied natural gas supply to Europe. Last year, the annual average the U.S. exported to Europe was 34%. In 2020 and 2021, Asia has been the primary destination for LNG exported from the U.S. Since December 2021, Europe has been….
The U.S natural gas markets have been constrained by increases in LNG exports, reduced gas production and storage, and returns to pre-covid levels of demand. Natural Gas prices have risen from the $3 level to $5, and in the New England area natural gas prices are big determinants of electricity prices. Given this recent constraint….
As the climate crisis accelerates, utilities in the U.S are looking to acquire miniature nuclear reactors called SMRs (Small Modular Reactors) to secure a reliable energy source and lower emissions associated to climate change. Over the past decade companies have stopped building nuclear due to rising costs of maintenance and delays. Some utilities interested in….
Today the Henry Hub Natural gas futures increased around 1.7% to $3.94/mbtu due to increased demand in regional and global gas markets, also led by higher temperatures in Western, Midwestern, and Southern U.S. Expected temperatures from the 90 – 100F this coming week are expected to result in a strong demand for natural gas. Additional….
The most recent forecasts for the 2021 Winter Season point to above average amounts of late-season snowfalls and below average temperatures. As natural gas prices climb to their highest since 2018, it will be very important to see how these conditions turn out. Given existing constraints in the natural gas market at this time a….
Cranberry farmers in Massachusetts are pushing solar developments by mounting solar panels over cranberry bogs to increase sustainability and revenues. The first of these in Massachusetts are expected to be completed in the remaining year in the town of Carver. It is a $53M project with 9MW of solar capacity being developed by Pine Gate….
The $2.8B – 800 MW offshore wind power project by Vineyard Wind is to become the first largescale wind farm in the U.S coast as it was approved by the Biden administration last Tuesday. Generally, projects of this type face a large amount of pushback from communities and become delayed. This event has been praised….
Divisive Clean Energy Future in New England Area Over the past years there has been a fight over the building of an AVANGRID power line bringing hydroelectric energy from Quebec to the New England area. The project is estimated to cost $1B, and last week was hit with a referendum that would kill the project….