Experts: Take Advantage of Lower Energy Prices

The El Nin͂o weather pattern has brought above-normal temperatures to much of the U.S., resulting in lower energy prices. OMA Connections Partner Scioto Energy reports that as of mid-December, natural gas and electric power prices had tumbled 28% and 10%, respectively.

Gas and electricity pricing will continue to be under pressure this winter due to lower heating demand, natural gas storage levels above the five-year average, production at all-time highs, and no increase in LNG exports expected until late 2024.

Cold weather bursts will result in price volatility, but longer-term pricing is in a sweet spot not seen since before Russia’s invasion of Ukraine, according to Susanne Buckley, partner at Scioto Energy. This is a good time to contact your energy advisor to take advantage of this market opportunity, Buckley said. 12/20/2023