Natural gas prices continued to show considerable weakness last week despite two weeks of arctic temperatures across most of the United States. The prevailing lows seen in the natural gas market, with prices not seen years, mean it's time for Texas business owners to take advantage of the low energy prices by locking in a term, fixed rate for their electricity supply. Using SaveOnEnergy.com to find an electricity provider, businesses can be assured they find the cheapest electric rate, by pitting up to eight competing suppliers against each other to win the customer's business.
Despite extreme cold across most of the country, natural gas ended the week losing another 15.9 cents to settle at $4.417 per 1,000 cubic feet. Natural gas prices are up to 50% lower than in January of 2008, and two-thirds lower than highs seen during the summer.
The fact that even a prolonged arctic blast could not support an increase in prices shows how much "demand destruction" has been experienced in the sector by large industrial customers, such as manufacturers and processors, who have cut demand due to the economic climate and reduced operations.
Low crude oil prices and high storage levels of natural gas are also supporting depressed natural gas prices, as pricing patterns continue to show the markets are well supplied.
All these factors make it the best opportunity to lock in a cheap rate for electricity service, to take advantage of the trough in the gas market. But as prices fall, energy companies will try and make up lost margins from the summer, and won't pass on all of the decline to customers -- unless customers make them.
The easiest way to do that is to shop for electricity using SaveOnEnergy.com, which gives Texas business owners the power of competition with just a few clicks of the mouse. Using SaveOnEnergy's.com one-of-a-kind retail exchange portal, businesses can get up to eight competing offers from qualified and vetted energy providers, so customers are assured of finding a reliable, stable energy supplier. By using SaveOnEnergy's.com exchange portal, customers can find a cheaper electric rate by pitting competing suppliers against each other, making suppliers offer their best rates to undercut their competition and win customers' business. And best of all, it's fast and convenient, so business owners can get back to running their business, instead of devoting hours to wading through complex energy contracts and calling suppliers to get rate quotes.