As you may know, the State of Arizona is reviewing whether to open the electric market to consumer choice. A competitive electric market will give Arizona families, businesses and government entities the right to shop for their electricity. This move will advance our electric market and economy, and the time is now.
The following are some benefits of electric competition:
- Delivers competitive pricing to electric consumers
- Empowers residential and business customers with choice and reliability
- Creates jobs and foster innovation
- Promotes renewable energy use
- Improves efficiency and customer service at utility companies
The Arizonans for Electric Choice & Competition’s (AECC) mission is to promote a fair and competitive electricity market for the benefit of all Arizona consumers. I encourage you to visit AECC’s new website AZelectricity.com to learn more about the issues and to show your support for consumer choice. Your support will make a difference.
An effective energy management strategy is essential for all businesses. Direct Energy VP Mike Senff recently shared insights on energy management with the restaurant industry. His tactics are valuable examples that can be applied to all businesses.
Full-service restaurant owners should not overlook one of the simplest ways they can positively affect their bottom line: managing their energy costs. By understanding where and when your restaurant consumes energy, management of this key expense can give you a competitive advantage.
When considering how to best manage energy costs, it is important to understand that each company has a unique energy usage pattern. Different offers exist to suit consumption profiles that vary over time (versus those with more predictable consumption patterns). In addition, a company’s risk tolerance can help dictate how much of its energy usage it is prepared to expose to wholesale market fluctuations, and how much it would like to lock in to certain pricing and for what period of time.
Please visit the Direct Energy Business online customer education center, Energy Insights, to view my Weekly Energy Market Update video for July 1, 2013. Receive weekly updates that are sent right to your email inbox.
The following is a summary of last week’s market activity and the market outlook:
Per last week’s Energy Market Update, I have provided some energy buying strategies in the current volatile market.
The trend in natural gas and electricity prices has been favorable for most energy buyers over the last month. NYMEX natural gas futures have fallen significantly and both regional gas and power prices have followed the downward trend. The key reasons are that weather has been moderate and storage injections have been much larger than a year ago.
The details are in the numbers below (all prices are in MMBtu):
Prices as of 6/24/13 and % change since 5/24/13.
Prompt Month $3.70 -0.58
12-Month Strip $3.89 -0.47
Calendar 2014 $4.04 -0.23
Calendar 2015 $4.21 -0.22
Calendar 2016 $4.38 -0.19
Direct Energy and Pittsburgh Magazine honor Scott Pipitone, president and CEO of Pipitone Group, as the 2013 Pittsburgh Small Business Community Heroes awardee for his dedication to community investment and revitalization. Pipitone was chosen for his personal contributions as well as his Observatory Hill-based integrated marketing communications firm’s commitment to helping dozens of area non-profits advance their missions to benefit thousands of people.
During the past six years the company has provided pro-bono marketing services to the tune of more than $230,000 of in-kind contributions for organizations such as Strength & Courage: Exercises for Breast Cancer Survivors; the Northside/Northshore Chamber of Commerce; Ingomar Living Waters; and many others. These contributions don’t include his personal financial contributions and his fostering and facilitating of a spirit of giving back to the community in his 33 employees, who in turn, take that spirit into their own communities.