The Impact Of Energy Rates On The Commodity Markets

It is understandable that we have priorities that focus on our well being for family, friends and our community. The energy sector is feeling the impacts of the coronavirus also. The outbreak has contributed to a dampened demand for oil and natural gas, resulting in lower prices and production declines, especially in the wake of the Russia-OPEC price war. As we move forward, a certainty is that we will return to normalcy. We are getting encouraging signs that we are about to put the pandemic in our rearview mirror. 
 
The crisis raises a number of unique opportunities. A likely outcome is that the settlement of the disagreement between Russia and OPEC will lower production for oil and gas. This, along with the technicals will put upward pressure on the market. It is now an opportune moment to lower your energy costs with electric and natural gas rates that are $0.02/kWh to $0.10/therm lower than the 5-year utility default averages. The Henry Hub natural gas market traded at $1.55/Dth during the last week of March, a level unseen since 1995. It has recovered to $1.75 but remains below $2.00/Dth. Congratulations to those who have!
 
Although we do need to look out for each other, we also should take advantage of the market dip so that we can come back even stronger than before.
 
If you would like to check the rates available for you please send us an email through the link here and please stay safe folks!
Your Friendly Neighborhood Energy!