Although energy prices remain at attractive lows, a run-up in natural gas and electricity prices may be just around the corner as extreme cold weather depletes stored gas and boosts heating demand. Texas business customers should avoid any jump in electricity rates by taking advantage of the current trough by locking-in a low, fixed rate for electricity service now, by using SaveOnEnergy.com to find the cheapest electricity rate.
While natural gas prices had thus far been immune to the cold snap across much of the U.S., that changed last week as prolonged frigid temperatures finally prompted price increases. The Energy Information Administration weekly report shows prices jumped 18¢ versus the prior week, after 195 billion cubic feet of gas was withdrawn from storage to meet higher heating demand.
Furthermore, settlement prices for delivery over the next 12 months were as high as $6.65 per MMBtu, versus spot prices around $4.75, indicating traders expect gas prices to rise in the coming months.
However, rig counts are down as low prices have prompted producers to shut-in natural gas production. That means as demand rises due to prolonged cold weather, fewer supplies will be available, further raising prices.
The trends show that if you’ve been waiting for the “trough” to hit in the electricity rate market to shop for a new energy contract, now is the time to act. In the near-term, there is little support for further reduction in prices as cold weather reverses any downward trend in the gas market.
It means its time for Texas businesses to check out SaveOnEnergy.com to find the best electric rate out there. SaveOnEnergy.com's one-of-a-kind retail exchange portal assures businesses of getting the best electric rate, and all it takes is just a few seconds and clicks of the mouse. Using SaveOnEnergy.com's exchange portal to find a cheap electric rate gives Texas businesses competing quotes from up to eight qualified and vetted energy suppliers. The head-to-head competition guarantees customers will get the lowest rate, and that the energy providers aren’t holding anything back.
Using SaveOnEnergy.com to find a cheap electric rate also saves business owners time, while assuring them of a reputable, reliable energy company. Why spend hours researching different electric companies and calling each for quotes when the experts at SaveOnEnergy.com have already screened suppliers based on a wealth of criteria, including market experience, management competence, financial health, and customer service. SaveOnEnergy.com's exchange portal not only saves you money, it saves you time, all while taking the risk out of finding the right energy supplier.