Like many consumers who use natural gas to heat their homes, you may have noticed that energy prices seem to be spiking lately, especially now, as it begins to get colder here in the Greater Northeast United States. The question that remains is… why? Read on to learn more about why price fluctuations occur—and what you can do to keep your energy costs down this winter season, and beyond.
The lower production of natural gas seems to be due in part to Hurricane Ida, which caused a pause in production that is still impacting 77.3% of the typical output from the Gulf of Mexico. In fact, The Energy Information Administration reports that U.S. natural gas storage is currently 7.4% below its average over the last five years and 16.8% below last year’s level at the same time, according to a CNBC Market Insider report.
While natural gas is a popular source of power for heating, cooking, and electricity generation, there are other uses that are putting an increase on demand, from a variety of angles:
When all this demand comes on heels of supply shortages, the result is skyrocketing prices. Currently, natural gas is higher than it’s been since 2014.
Not to pile it on, but the forecasts for natural gas prices aren’t looking so hot—at least, not for consumers who are hoping to see prices return to a more even-keel cost. That’s due in large part to the heavy demand for natural gas. Fortunately, with Discount Power, you have the power to choose an energy plan built to fit your needs—and your budget. We offer you a variety of natural gas plans with varying term lengths and pricing options to lock-in low prices for extended periods, or let you ride the market pricing month-to-month. Whatever is best for you!
Natural gas prices may have doubled this year, but your costs don’t have to! By switching natural gas suppliers, you can reduce your carbon footprint, move to a renewable energy plan, and get the most affordable rates. The energy experts at Discount Power can walk you through your options and explain the changes you could see when you become a customer. Feel good about the energy you use every day.
Don’t be beholden to the utility company’s soaring natural gas costs that they pass along to you, the customer. Discount Power helps make it easy for you to understand and manage your natural gas costs, providing competitive energy supply service across the Northeast United States. Currently, Discount Power operates with natural gas utilities in Maryland, New Jersey, Ohio, and Pennsylvania servicing both residential and commercial customers.