Wholesale Natural Gas Prices Close to Breaking Important $5 Barrier
A dramatic spike in prices means increased cost to consumers in the months ahead
Stamford, CT - January 25, 2011 – As of Monday morning, prices for wholesale natural gas reached a five-month high with prices close to breaking the important five-dollar barrier. The price of natural gas for the 2012 calendar year has just jumped over $5 and the 2011 calendar year is not far behind.
«Prices of natural gas dropped sharply after a peak in 2008,» said Blas Pina, Director of Natural Gas for MXenergy. «Just as consumers have started to become comfortable with lower prices, this winter has thrown us a curveball.»
A recent report by the National Bank of Canada projects that the wholesale price of natural gas will be $4.819 for 2011 and $5.101 for 2012.
«If this trend keeps up we can expect electricity prices to respond similarly since natural gas is an important fuel for all new power generation,” continues Pina.
MXenergy is one of the fastest growing retail natural gas and electricity suppliers in North America, serving approximately 500,000 customers in 41 utility territories in the United States and Canada. For over 11 years, the company has provided millions of customers with a choice in how they purchase energy to run their homes and businesses. Founded in 1999 to provide natural gas and electricity to consumers in deregulated energy markets, MXenergy helps residential customers and small business owners control their energy bills by providing both fixed and variable rate plans. MXenergy is committed to best practices in environmental conservation, supporting local communities through various outreach programs and is a member of the Chicago Climate Exchange.
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