Terry Crupi, Director of Natural Gas Marketing and Trading at PPL EnergyPlus has put together helpful hints on how to manage your energy costs. Being that the impact of Marcellus Shale gas development has been fast and growing, it is now the ideal time to partner with an energy supplier that can help you navigate the market. You could be paying more than you need to and partnering with an energy supplier can benefit your business.
- What has been the impact of Marcellus Shale gas development on natural gas prices?
The recent discovery of Marcellus Shale and natural gas has contributed to a significant drop in natural gas prices. In the last 12 months, these lower prices have saved businesses around $1.4 billion in natural gas costs and created an opportunity for businesses to lock into their natural gas prices.
- How do natural gas prices affect electricity prices?
Natural gas is a leading indicator for electricity prices, so as the increase in supply of natural gas decreases its price, the prices for electricity are driven downward as well.
- What is the long-term view of natural gas prices? Will they stay low?
The latest trends and analyses show that more stable natural gas prices will be around for a few years. At some point, natural gas prices will trend upward again – whether it is due to increased demand or reduced supply.
- How can businesses take advantage of the current low energy prices?
The key is finding an energy partner that understands the nature of energy prices and will successfully help you navigate the energy landscape. Businesses should now be evaluating their current contract with their natural gas and electricity suppliers and asking how they can benefit from the current low prices.
Crupi covered the above items in a full length article, which can be found here.