Natural Gas News – October 19, 2021

Natural Gas News – October 19, 2021

Georgia consumers likely to see higher natural gas, electricity bills

Waves of price increases are expected to douse many Georgians who pay electricity and natural gas bills in the coming months. One crucial reason: surging prices for natural gas that heat homes, water, stoves and ovens. Utilities also rely heavily on burning natural gas to generate electricity. Adding to the consumer burden, state regulators already have approved an electricity rate increase for Georgia Power and are considering beginning to allow some charges for construction costs at the long-troubled nuclear expansion of Plant Vogtle. Georgia Power’s moves alone could hit its 2.6 million customers with more than $600 million in extra costs over the next nine months or so, with more to come later. Typical residential electric bills could rise $10.46 a month, or $125.52 over a full year. More than a fourth of the … For more info go to https://bit.ly/3vpfwtD

Brent oil futures mark first loss in 3 sessions; natural-gas prices end at…

Oil futures took a split path on Monday, with the global benchmark ending lower for the first time in three sessions and the U.S. benchmark significantly paring early gains after both touched multiyear highs. The lofty prices for crude raised the potential for demand destruction in the energy market, an analyst said. Natural-gas prices, meanwhile, fell by nearly 8% on Monday, as a forecast for warmer weather helped to ease worries about winter energy supplies. The oil market is likely to see an increase in volatility because of the recent multiyear highs for prices, said Phil Flynn, senior market analyst at The Price Futures Group. However, “from the supply versus the demand side, all the news is bullish.” Oil production from the Organization of the Petroleum Exporting Countries is lower t… For more info go to https://on.mktw.net/2Z2D8rK

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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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