Prices are still low, but creeping up. The Beacon, 12/21/2020

The Headline:   Natural Gas prices rose slightly again last week, pulling wholesale electricity prices up as well.   Prices are still low, however, with the 12-month price holding near $2.76 – with the low rig counts, there is significant risk of rising prices over the next few months.  Lighthouse recommends locking in your electricity and natural gas rates to achieve savings.  

The Bottom Line:    Natural gas prices through 2023 rose slightly last week, carrying electricity prices along for the ride.   Drilling rig numbers stalled and are still very low, leaving these low short-term prices vulnerable to weather concerns – when storage levels get low as they do every winter, prices are likely to go up and spike.   We are advising our customers to lock in both electricity and gas rates right away.    

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(Note:   This will be the last published Beacon of 2020 – Happy Holidays from the Lighthouse Team!)