As we head into Thanksgiving and winter heating season, natural gas futures are nicely positioned and as things currently stand, pricing looks favorable moving forward. Winter weather forecasts are calling for normal to warmer-than-normal temperatures for the Great Overtaxed Northeast along with periodic shots of frigid air. Futures markets can handle shots of cold weather although […]
Electricity and Natural Gas Update – Thanksgiving 2023
Natural gas futures are lower since last contacting you a month ago with primary reasons being: current average seasonal temperatures, forecast for warmer than normal winter, robust production and high gas storage levels. At this time the only resistance to lower prices is strong Liquified Natural Gas exports (and long term commitments) which tempers how low […]
Electricity and Natural Gas Update – December 2022
Natural gas futures and electricity pricing remain high as we begin winter heating season. Futures jumped significantly today based on large gas storage withdrawal along with weather forecasts calling for much colder weather and higher heating demand over the next two weeks. Imagine that, cold weather forecasts for December having such an impact. As mentioned over […]
Thanksgiving Wishes and Electricity and Natural Gas Update 2021
Natural gas futures are higher since last contacting you twelve days ago. Exports of liquefied natural gas remain strong and this factor alone limits downward pricing movement. Most significant pricing factor currently is winter weather forecasts for December and as of today, prediction is for warmer-than-normal temperatures to start the month. This may result is near […]
Electricity and Natural Gas Update – December 2020
Heading into winter we have what some call “massive oversupply” of natural gas which is good news. Knowing upcoming weather forecasts can drive the market up or down, creating volatility, the only way to ensure you will not experience significant price spikes is to lock in your electricity and natural gas rates. Sustained cold here […]
December 2019 Electricity and Natural Gas Update and Happy Thanksgiving
With today’s settlement/expiration of the December natural gas contract, we close out a year of stable, favorable pricing driven by record production and, currently, forecasts for milder-than-normal December weather. This has created excellent opportunities throughout the year to lock in your electricity and natural gas supply rates through 2022 and beyond. Winter is upon us […]
Happy Thanksgiving and a Quick Energy Pricing Update
November’s cold weather triggered natural gas (futures) price spikes this month resulting in gains as much as 48% at its peak. Trading volume hit an all-time high of 1.2 million contracts on Wednesday, November 14th. All this action primarily due to short covering, lower than normal gas storage levels (-16.6% yr. ago, -18.6% 5-yr. avg.) […]
November 2015 Electricity & Natural Gas Update
The chart below is taken from U.S. Energy Information Administration, Nov. 25, 2015: Recall over the years how we would stress importance of reaching 3 trillion cubic feet of gas in storage by November 1st? Today we exceed 4 trillion cubic feet, the number is highlighted above. Plenty of gas. This number says it all […]
Happy Thanksgiving
Upstate Utilities wishes all of you a Happy Thanksgiving. We thank God for His goodness to us, He has blessed us in ways beyond what we deserve. Our prayer for this nation is that we return to following Him before it’s too late. Thanksgiving, or Thanksgiving Day, is a holiday celebrated in the United States […]