The forecast for the natural gas storage balance at the end of the injection season, October 31, 2014, is 3,450 Bcf. This would be the lowest natural gas storage volume since 2008. The average natural gas storage volume heading into the winter months has been an average of approx. 3,800 Bcf during the past 5 years. The lower forecasted storage volume this year will result in higher natural gas costs over the next year.
Since Ontario electricity prices are tied to the natural gas price we are forecasting higher electricity prices over the next year as well.
We encourage all EMC members to fix a portion of both natural gas and electricity volumes for the next year, at least.
To book a meeting to review the current EMC Energy Group recommendation please contact Margaret Harrison at (905) 635-3265 or via e-mail at firstname.lastname@example.org.
Energy Market Overview - June 2014
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- Margaret Harrison
- June 23, 2014
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