If you’re like most of us, you still have a few items on your Fall Checklist – school shopping, HVAC inspections, lawn care. If you haven’t taken care of your company’s electricity and natural gas supply contracts yet, add that to the list.
This week’s hot weather is pushing potential new peaks in New England, New York and PJM. Spot prices are currently elevated but we expect strong natural gas production numbers to alleviate any ongoing concerns. In fact, as we enter the shoulder months and see fall off in power requirements, we could see a fall in prices, especially if natural gas weekly production continues to perform at record levels.
If you haven’t already done energy contracting for the year, now is the time to make sure you are ready so you can take advantage of any dips in the forward price curves. We strongly recommend working with your Usource advisor to get set up for pricing. This includes gathering a copy of recent utility invoices and signing up-to-date letters of authorization that allow Usource and its suppliers to access your interval usage data. In addition, Usource will help you understand how your current procurement plan is working and make any necessary changes to the plan to better meet your budget and sustainability objectives and then set a date for pricing bid reviews.