Prices are still high and it’s only November.
The Bottom Line
If you do not have a fixed rate natural gas contract, you could see an estimated 30% increase in your heating and electric bills this winter. Mid-November we saw a significant increase in natural gas prices. Why? You can read more about it here, but the main takeaways: weather drove up demand, the natural gas supply is depleting, and financial speculation of the natural gas market compounded the issue. You should consider short-term winter buys or variable products which may perform better than long-term fixed rates. But you don’t have to go it alone – we can help make those options clear and explain the benefits and risks.
Take Action
Some of you will be more vulnerable to this price hike than others. Contact us as soon as possible if you:
- Do not have fixed rate natural gas contracts
- Are on the utility rate
- Are on a fixed rate contract set to expire before June 2019
We will work with you to determine the best course of action based on your current rates, risk tolerance, and budgets.
What to Know About 2018
November has been one of the coldest on record since 1950, and as a result buildings across the country are using more natural gas than predicted. This is further depleting a supply that is already significantly lower than this time last year. Unsure how to proceed? Our energy markets experts are here to help and provide clear recommendations.
