Town Square Energy: New England Energy Market Watch – 3 Ways to Prepare For Winter 2021
With natural gas markets signaling constraints this winter, residents who live in New England could possibly get a shock when they pay their power bills this winter.
The energy market is shaping up to leave a lump of coal in the stocking of every New England electricity bill payer this winter.
The primary source for generating electricity is natural gas. Natural gas futures prices have exploded in the last 90 days with little sign of slowing. But what is driving the increase and how can New Englanders prepare this winter?
International demand for natural gas is a likely culprit.
“Every molecule of natural gas that can be moved off of this continent is being moved to higher priced international markets.”
Prominent energy experts, are saying the same thing. Forbes, Rueters, The New York Times, and CNBC have all published articles recently highlighting the potential energy disaster slowly moving toward the U.S. and specifically the northeastern parts of the country – whose residents depend on a steady flow of natural gas to heat their homes every winter.
3 Ways to Find a Better Rate this Winter in New England
We at Town Square Energy want our customers to be well-informed energy consumers. Below are the 3 ways to find a better rate this winter if you live in a competitive energy market.
1. Shop for a new supply rate on state-sanctioned electricity comparison sites (Don’t wait, do this NOW)
For savvy electricity shoppers, the rate boards are the first place to look. Energy markets are volatile, those who shop early will be better prepared.
2. Compare standard residential rates from the local utility.
You can always compare the standard residential electric supply rate offered by your local utility to what is offered in the competitive marketplace. These rates can often be found on the state price comparison boards and are a potential alternative.
Have a plan to reduce your consumption before winter begins. Small changes like turning down your thermostat and wearing your favorite holiday sweater can make meaningful impacts to your overall consumption.