Natural Gas Price Continues to Drop

[Snagglefoot]

Natural Gas storage in the USA is at a high level and the price continues to drop. Although its a small part of your bill, it still helps.

 

[tmorris1]

Its been a warm winter here, so definitely not using as much to heat the house.

 

[k1xv]

Low natural gas prices reduces the cost of generating electricity for the utility industry. Whether that is passed on to retail customers is a matter of regulation and/or market competition.

 

[4WD]

I have a 2 year electric contract … if the GTG plants make a bit more profit - more power to them …

 

[Lubener]

An overly mild winter will do that. Time to watch prices and lock in at these lower rates. My provider allows price locks and no penalty to change within the contract period should prices tumble more.

 

[sloinker]

It needs to stay low or even lower come April when I choose my next natural gas supplier contract. I am near the end of my unlimited use, all in, $113 a month contract now. My prior contract was less than a hundred bucks a month unlimited. The present spot price should result in me saving some monthly dough if it stays near the present price.

 

[goingplacesanddoingstuff]

Natural gas prices are going to stay relatively low in the US for at least the next couple years.

 

[tcp71]

Thanks for the thread. Just locked in natural gas at $1/GJ less.

 

[Lubener]

Natural gas prices are going to stay relatively low in the US for at least the next couple years.

All it takes is one hard winter, increasing the demand and prices will go up.

 

[Rmay635703]

Low natural gas prices reduces the cost of generating electricity for the utility industry. Whether that is passed on to retail customers is a matter of regulation and/or market competition.

The vast majority of my bill is fixed costs and taxes.

Went from $9.99 a month to $49.99 a month in a period of 4 years. (My actual monthly consumption is usually under $10, which is what my bill should be)

Thats the problem with mandatory profit growth in a stagnant/ shrinking industry.

It prevents a reduction in cost because virtually all of the bill has nothing to do with usuage.

Kinda wish a had a bifuel natural gas car at the moment

 

[goingplacesanddoingstuff]

All it takes is one hard winter, increasing the demand and prices will go up.

Well yes, which is why I used the word “relatively.” My intention is to indicate that supply is not going to be constrained.

 

[Snagglefoot]

Well yes, which is why I used the word “relatively.” My intention is to indicate that supply is not going to be constrained.

Just in. Supplies are looking heathy for this coming winter.

• Working gas in storage was 3,347 bcf as of Aug. 30, 2024, a net increase of 13 bcf from the previous week and surpassing both last year's level and the 5-year average.

 

[Jim K]

I will be happy when this happens.

 

[dubber09]

Looks like an annual cycle according to first graph.

 

[Snagglefoot]

Looks like an annual cycle according to first graph.

Yes, natural gas goes into storage into depleted reservoirs in the summer months and comes out in the winter months. Owners of these storage facilities do very nicely charging the owners of the gas for storage.

 

[nickaluch]

View attachment 239907 I will be happy when this happens.

Yes and our paycheck was$25

 

[Danno]

Just in. Supplies are looking heathy for this coming winter.

• Working gas in storage was 3,347 bcf as of Aug. 30, 2024, a net increase of 13 bcf from the previous week and surpassing both last year's level and the 5-year average.

All set for increased demand, do they know something about the upcoming winter that we don't?