Natural gas and electricity prices?

[MillauFr]

From a reliable news source …
“But the bigger issue for US natural gas is the fact that inventory levels are below historical averages, leaving the market with less of a buffer and driving up prices.
"We entered this year at beaten-down levels and we never caught up," Yawger said.
Supply has failed to keep up with strong demand for gas. Thummel pointed to how US oil and gas producers are under pressure from Wall Street to spend less on expensive drilling projects and more on dividends and buybacks to shareholders.
"We need more US natural gas production. The production levels are too low," Thummel said.
The good news is that higher prices should, eventually, incentivize more production. And investors are not betting today's high prices will continue. The futures market indicates natural gas prices should be almost 50% lower at this point next year.”

Along with increased exports to Europe to help them cope with their loss of supply.

This is exactly correct. Shareholders were tired of investing their money in oil and gas producers and losing money. They demanded increased profits and this is causing consumers to be hit with higher prices.

 

[MICKIMINI]

Not to minimize your serious issues or financial pain, but trust me, living in the south is no picnic either. Our rates have skyrocketed and 24/7 AC is not a luxury - it's a necessity - kind of like heat during winter for you. Power outages of 1-2+ weeks after a storm means you're living 24/7 in 100+ degree feel like temps in brutal, sticky humidity with no way to cool off. Sadly, many heat related deaths occur after prolonged power outages.

Oh, for sure. We are considering retiring in FL. In NH we get to 100 in the summer and we have central air. Our electricity rates went up 112% last month.

This is everybody's problem except we are the people unable to fix it and we all have to pay whatever the bill is. Let's hope someone comes to their senses as modern people are not well equipped or financially able to live an austere lifestyle off the grid.

 

[dvcgirl67]

This is exactly correct. Shareholders were tired of investing their money in oil and gas producers and losing money. They demanded increased profits and this is causing consumers to be hit with higher prices.

This is exactly right....but it doesn't fit the narrative that many subscribe to. There are thousands of leases and permits that are not being utilized by these companies because, as MillauFr said....investors are demanding a return on their investment.

 

[barkley]

it will be interesting to see what happens with us-our electric utility has not done a rate increase since april of 2020. other than electricity we use propane and while it's gone up at least we have the option to watch prices and when they have traditionally taken a seasonal dip in prices we've been able to top off our tank.

 

[Pooh2]

NH here. Our electricity went up 112% last month (not a typo). Our fuel oil went up from $1200 a year to $2000 for 2022-2023. Sickening. I will withhold my facts as OP indicated we can't discuss here...

Edit to mention it gets to -20 here. We don't have a choice.

We are in NH as well with the same increases.
My elderly mom actually cried when she got her oil bill last month. And that was before the doubled electric bill hit her mail box.
This is going to be a really tough winter.

 

[MillauFr]

it will be interesting to see what happens with us-our electric utility has not done a rate increase since april of 2020. other than electricity we use propane and while it's gone up at least we have the option to watch prices and when they have traditionally taken a seasonal dip in prices we've been able to top off our tank.

Your energy rates are more impacted by the amount of snow in the Cascades than natural gas rates. Hydro is by far and away the largest source of electricity in Washington.

 

[LuvOrlando]

US is being plundered and we are being told it's for our own good, I ain't buying any of it, not at all.

 

[barkley]

Your energy rates are more impacted by the amount of snow in the Cascades than natural gas rates. Hydro is by far and away the largest source of electricity in Washington.

it also makes a MAJOR difference when there's no profit factor in the equation. being part of a not for profit cooperative means our rates are substantially lower than even the area a few miles down the road from us that has the same hydro resources but is a traditional for profit operation.

 

[TippyThomas]

I have electric and natural gas and I haven't seen much of an increase for me. I guess I should consider myself very lucky considering what I'm reading here.

 

[TwoMisfits]

I have electric and natural gas and I haven't seen much of an increase for me. I guess I should consider myself very lucky considering what I'm reading here.

Most areas only are allowed to adjust rates one time per year on a set schedule with the state...yours just might not have hit that time yet...

 

[MillauFr]

US is being plundered and we are being told it's for our own good, I ain't buying any of it, not at all.

Exactly correct. The people doing the plundering are the real villains. The keep trying to distract us with this red / blue political divide nonsense. The real problems in this country are not caused by people with different political beliefs than you. The real problems are caused by the plunderers who only care about stealing as much green from us.

 

[SueInBoston]

NH here. Our electricity went up 112% last month (not a typo). Our fuel oil went up from $1200 a year to $2000 for 2022-2023. Sickening. I will withhold my facts as OP indicated we can't discuss here...

Edit to mention it gets to -20 here. We don't have a choice.

MA here, single person in a condo, my electric went up 50% last month. I thought it was a mistake but started reading about high energy costs

 

[mousefan73]

Exactly correct. The people doing the plundering are the real villains. The keep trying to distract us with this red / blue political divide nonsense. The real problems in this country are not caused by people with different political beliefs than you. The real problems are caused by the plunderers who only care about stealing as much green from us.

Agree, the issue is very much economically/market driven vs political. I just hope voters don't fall for the poltical bait in November with both sides pointing fingers or promising things they can't influence. Kinda like your 401K balance has NOTHING to do with who is in power, politically speaking. Or inflation or the value of the dollar etc... There's a much bigger thing out there called GLOBAL MARKETS.

We just ordered oil.. We normally pay under 1 euro a liter but paid 1,5. We would have waited, but we noticed the long delivery times.( it went down from the high of 2 euros). We ordered last week, coming mid-Nov.. So that is also our concered delivery issues. it sucks, but at least we can pay for it, just means we cut elsewhere for non-essentials. I dont know what families are doing who live pay check to pay check., Yes DISers there are folks like that (sarcasim). If your gas bill goes from 200 to 400 for many that is catastrophic.

 

[mousefan73]

MA here, single person in a condo, my electric went up 50% last month. I thought it was a mistake but started reading about high energy costs

You're just now getting the memo?

 

[JaxDad]

Agree, the issue is very much economically/market driven vs political. I just hope voters don't fall for the poltical bait in November with both sides pointing fingers or promising things they can't influence. Kinda like your 401K balance has NOTHING to do with who is in power, politically speaking. Or inflation or the value of the dollar etc... There's a much bigger thing out there called GLOBAL MARKETS.

I understand what you’re saying and agree for the most part. It is what Big Media is reporting as well. However, if the previous President were still in office, and the world was experiencing these exact same conditions, I KNOW they would be reporting on a lack of US leadership and “collusion” with Big Oil. The “narrative” cuts both ways.

 

[mousefan73]

I understand what you’re saying and agree for the most part. It is what Big Media is reporting as well. However, if the previous President were still in office, and the world was experiencing these exact same conditions, I KNOW they would be reporting on a lack of US leadership and “collusion” with Big Oil. The “narrative” cuts both ways.

Collusion is a strong word, but one can do the research and simply see who corporations donate their money to. Then you see whose in bed with whom.. Supreme Court removed limits rule on such donations- believe the argrument was free speech. citizens united vs. federtal elections.

 

[dvcgirl67]

I understand what you’re saying and agree for the most part. It is what Big Media is reporting as well. However, if the previous President were still in office, and the world was experiencing these exact same conditions, I KNOW they would be reporting on a lack of US leadership and “collusion” with Big Oil. The “narrative” cuts both ways.

Well, not so sure about that as "Big Media" comes in two colors as well....red and blue. You're likely thinking Main Stream Media .....which is probably the "media" that you don't subscribe to. There's plenty of "big media" on both sides.....you can tune in and get whatever message you'd like. And actually....the media that claims to be outside of the "Main Stream"....is actually the most watched cable news channel in this nation which is kind of funny when you think about it.

 

[JaxDad]

Well, not so sure about that as "Big Media" comes in two colors as well....red and blue. You're likely thinking Main Stream Media .....which is probably the "media" that you don't subscribe to. There's plenty of "big media" on both sides.....you can tune in and get whatever message you'd like. And actually....the media that claims to be outside of the "Main Stream"....is actually the most watched cable news channel in this nation which is kind of funny when you think about it.

Yep. It comes in both colors, and you have no idea what I “don’t subscribe to.” I’m just expressing my opinion on how this would all be reported differently due to political narratives.

 

[dvcgirl67]

Yep. It comes in both colors, and you have no idea what I “don’t subscribe to.” I’m just expressing my opinion on how this would all be reported differently due to political narratives.

I mean no disrespect whatsoever....but your previous post tells us what news you consume...or rather, what news you believe. That's no big deal....it is what it is. We all believe what we believe.

 

[JaxDad]

I mean no disrespect whatsoever....but your previous post tells us what news you consume...or rather, what news you believe. That's no big deal....it is what it is. We all believe what we believe.

There is no single news source I totally believe or even totally disbelieve. The state of “journalism” across the board is pretty pathetic. I trust some sources more than others but still verify information across multiple sources, if it’s something important to me. Most of it is just noise though.