Natural Gas News – July 24, 2018

Natural Gas News – July 24, 2018

California Power Grid Urges Consumers to Conserve Energy in Heat Wave

Reuters reported: California’s power grid operator on Monday issued an alert to homes and businesses to conserve electricity on Tuesday and Wednesday when a heat wave is expected to blanket the state. The California Independent System Operator (ISO), the grid operator, said it issued the so-called “Flex Alert” due to high temperatures across the western United States, reduced electricity imports into the state, tight natural gas supplies in Southern California and high wildfire risk. The ISO’s alert followed an earlier notice by Southern California Gas Co (SoCalGas), the gas utility for the southern part of the state. SoCalGas issued a gas curtailment watch on Monday, notifying customers to be prepared to reduce gas use if needed, with power generators expected to burn more fuel this week than usual to keep air conditioners humming.

Egypt Hikes Natural Gas Prices by Up to 75 Percent

The Denver Post reported: In a story July 21 about the increase in Egypt’s natural gas prices, The Associated Press erroneously reported the price increases. Gas consumption of up to 30 cubic meters increased to 1.75 Egyptian pounds, not 0.175. Gas consumption between 30-60 cubic meters went from 1.75 Egyptian pounds to 2.50 pounds per cubic meter, not from 0.175 Egyptian pounds to 0.250 pounds. Consumption of over 60 cubic meters was upped from 2.25 pounds to 3 pounds per cubic meter, not from 0.225 pounds to 0.300 pounds. Egypt raised natural gas prices for households and businesses on Saturday by between 33.3 and 75 percent, the latest among tough austerity measures aimed at rebuilding the country’s economy battered by years of unrest since a 2011 uprising. The government’s decision, published in the official gazette on Saturday, should come into effect starting in August.