Our unusually mild winter continues, resulting in high inventory of natural gas along with falling near term monthly futures pricing. Forecasts are calling for warmer-than-normal temperatures through mid-March.

Last week a large gas production company announced a 30% production cut in 2024 due to low prices and the market spiked 13%. Prices have settled down since the announcement however with pricing at or near break even for producers we may see more cuts in the future. Producers simply will not lose money on their product, we will see how the supply/demand/price scenario plays out.

Fixed rate electricity pricing continues to be high, it’s our new normal, push for renewable energy is a significant cause for higher pricing.Please contact me anytime with questions or concerns.

Regards,

John Thomas
Upstate Utilities, Inc.
2592 Western Ave.Suite 201
Altamont, NY 12009
518-355-4761 Office
518-391-2370 Fax
518-225-8098 Cell