Electric Savings Program:

Chamber Energy Solutions wants to keep its customers updated on the current electric market conditions which may impact your future electric costs.  The below update will continuously change. Please contact your Chamber Energy Solution’s representative, Bob Snavely, at 419-539-9180 or email him at bsnavely@palmerenergy.com to review your electric bill.

Natural Gas Program:

Chamber Energy Solutions wants to keep its customers updated on the current natural gas market conditions which may impact your future gas costs.  The below update will continuously change. Please contact your Chamber Energy Solution’s representative, Bob Snavely, at 419-539-9180 or email him at bsnavely@palmerenergy.com to review your gas bill.

  FAQ's of the Natural Gas and Electric Savings Program.

 

Electric Update

As the true summer season finally seems to be upon us, pricing movements may become more volatile in the coming weeks while the market gets its first inkling of how summer demand might look. Little to no heating demand is expected for the foreseeable future, but cooling demand will start to ramp up as humid temperatures persuade end-users to turn on their air conditioning. On-peak wholesale power prices for calendar year 2016 have fallen roughly 5% over the past month. Similarly, future year on-peak pricing (2017-2020) has fallen in the 3-4% range as well.

 

 
 

 

Natural Gas Update

NYMEX natural gas prices over the past month have begun to feel the effects of another historically warm winter.  This January in Toledo was about 16% warmer compared to historical weather while Columbus was about 21% warmer than normal.  Additionally, February was about 29% & 30% warmer in Toledo & Columbus, respectively.  All in all this winter is on pace to potentially be the warmest on record, essentially a repeat of last year’s historic winter weather.  After the January-17 NYMEX expired at $3.93, suppressed heating demand caused the February-17 NYMEX to settle at $3.39 and the March-17 NYMEX to settle at $2.63 (a $1.30 decrease over two months). 

The NOAA/National Weather Service released an El Niño advisory in mid-February for spring 2017 (March-May), predicting a 60% chance of occurring in the Northern Hemisphere of the U.S.  Correspondingly, the odds of El Niño forming in the September-November 2017 time frame are currently predicted to be at a 50% chance.  Recall this weather phenomenon favors warm and dry climates relative to historical norms.  This tells us that periods of extreme weather may not be quite finished as we head into the spring and summer seasons.

It’s more important than ever to have CES review your utility bills to ensure the best pricing for your energy costs.