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In This Issue

Massachusetts business coalition seeks steeper renewable energy standard

Upton Highlights Bipartisan Success in Energy Security Measures

Natural Gas and Oil Market Update

EIA - Weekly Natural Gas Storage Report

NYMEX Natural Gas Week-to-Week Price Change

Natural Gas Futures - Five Year Price

Tables

NOAA 6 to 10 Day Outlook
weatherweather
Color indicates the probability of forecasted temperatures being above or below a historical average for the period.

 

Market Overviews


Massachusetts Business Coalition Seeks Steeper Renewable Energy Standard

Electric Light& Power | September 15, 2017

A group of Massachusetts businesses are calling on state lawmakers to support an increase of the state’s Renewable Portfolio Standard (RPS) to achieve 50 percent renewable energy supply by 2030.

Autodesk, Ikea, JLL, Legal Sea Foods, and New Balance are among the businesses calling for more renewable energy in a letter delivered to lawmakers. The call comes as Massachusetts lawmakers prepare for a hearing next week on several pieces of legislation that would increase the RPS.

“Increasing the RPS would help Massachusetts businesses,” the letter states. “A growing number of companies, both large and small, have set goals to reduce greenhouse gas emissions and invest in renewable energy not only because it is the right thing to do to address the urgent imperative of advancing the clean energy transition, but because it makes good business sense.”

The RPS has helped spur new, cost-effective renewable energy development, which is critical to allowing businesses to meet their clean energy goals. Currently, the RPS in Massachusetts increases by 1 percent per year. However a new report finds that increasing the RPS by at least 2 percent per year would create thousands of jobs, lower wholesale electricity prices, and better position Massachusetts and its business community to harness the state’s potential for reducing greenhouse gas emissions.

“As a global commercial real estate firm, JLL understands that investing in clean energy is good for our clients’ bottom line,” says Cynthia Curtis, Vice President of Sustainability at JLL. “Forward thinking-policies like the RPS puts more clean energy on the grid so businesses can benefit from more predictable energy prices and better environmental quality.”

“Our business powers our facilities and cloud services with 100 percent renewable energy,” says David Crane, VP of Government Affairs at global design software developer Autodesk. “We’ve found that clean energy is good for business and the economy and that is why we support strengthening Massachusetts’ RPS to reach 50 percent by 2030.”

“Massachusetts lawmakers should respond to the calls of the business community and increase the state’s Renewable Portfolio Standard,” said Alli Gold Roberts, senior manager of state policy at Ceres, a sustainability nonprofit organization that helped organize the businesses. “A stronger RPS will provide companies with additional policy certainty and help the state continue to be a clean energy leader."

Massachusetts’ current policies have catalyzed the development of a robust clean energy sector, leading to the creation of high-paying jobs, and increased capital investments. These policies have resulted in more than 100,000 clean energy jobs and contributed more than $11.8 billion to the Gross State Product. Increasing the RPS would accelerate this vital economic engine while helping the state meet its greenhouse gas reduction requirements.
The businesses signatories have set a high standard for clean energy leadership and urge other businesses and lawmakers to support an increase in the state’s RPS.

Read More:
http://www.elp.com/articles/2017/09/massachusetts-business-coalition-seeks-steeper-renewable-energy-standard.html


Upton Highlights Bipartisan Success in Energy Security Measures

Ripon Advance News Service | September 15, 2017

In the wake of Hurricane Harvey, U.S. Rep. Fred Upton (R-MI) recently highlighted legislative efforts to shore up energy and infrastructure security, and he called for bipartisan support moving forward.

Being able to respond to large-scale energy infrastructure damage resulting from natural disasters, aging infrastructure or cyber attacks are key provisions of energy security, Upton, the chairman of the House Energy and Commerce Subcommittee on Energy, wrote in an op-ed appearing in The Hill on Sept. 6.

The House approved the Enhancing State Energy Security Planning and Emergency Preparedness Act of 2017, H.R. 3050, in July with bipartisan support. The bill would enable states to use federal resources and knowledge to build public and private partnerships that shore up energy security.

“As Hurricane Harvey has taught us, making sure our energy resources are safe, secure and plentiful should not be a partisan issue. It’s an issue we can’t afford to wait on. If passed by the Senate and signed into law, the bill would provide federal financial help to states such as Michigan to implement energy security plans, including a greater focus on cybersecurity.

Upton cited the federal Department of Homeland Security’s Industrial Control Systems Cyber Emergency Response Team recording 290 cyber attacks that allowed hackers to access critical power and communications systems. And recently the former CEO of PJM Interconnection, the nation’s largest grid operator, reported that there were as many as 4,000 cyberattacks per month at that company alone.

“There’s no reason to think that the pace of attacks won’t continue to accelerate,” Upton said.

Energy infrastructure failures or disruptions can cripple the economy, Upton wrote, leaving gas stations without power and fuel for vehicles, factories without electricity to operate machinery, and families without electricity to charge electronic devices.

“Michigan has an energy security plan in place, and is working to improve it to respond to current and emerging threats,” Upton said. “However, energy threats don’t stop at a state’s borders. Officials need to be confident that their neighbors are in a strong position to react to storms, infrastructure malfunctions and other threats to avoid problems that can cascade throughout a region.”

“That’s why it’s imperative we all work together — in Congress and at the state level — to make sure our energy infrastructure is reliable and resilient.”

Read More:
https://riponadvance.com/stories/upton-highlights-bipartisan-success-energy-security-measures/

Natural Gas and Oil Market Update

Arrow

Natural-Gas Prices Edge Up Eia Reports U.S. Supply Rise Of 91 Billion Cubic Feet

MarketWatch | September 15, 2017

Data from the U.S. Energy Information Administration on Thursday showed that domestic supplies of natural gas rose by 91 billion cubic feet for the week ended Sept. 8. That was just above the average forecast for a climb of 88 billion cubic feet by analysts surveyed by S&P Global Platts.

Total stocks now stand at 3.311 trillion cubic feet, down 179 billion cubic feet from a year ago, but 43 billion cubic feet above the five-year average, the government said. October natural gas NGV17, -1.21% was up 1.9 cents, 0.6%, from Wednesday’s settlement to $z3.077 per million British thermal units. It traded at $3.053 before the data.

  Arrow

Oil Holds Near Five-Month High In Most Bullish Week Since July

Reuters | September 15, 2017

Brent oil prices held near five-month highs on Friday, and were on track for the biggest weekly gain since late July, on forecasts for rising demand and the gradual restart of U.S. oil refineries.

The Organization of the Petroleum Exporting Countries this week forecast higher demand for its oil in 2018 and pointed to signs of a tighter global market, indicating its deal with non-OPEC states to cut output is helping tackle a glut.

EIA - Weekly Natural Gas Storage Report

EIA - Weekly Natural Gas Storage Report

Summary
Working gas in storage was 3,311 Bcf as of Friday, September 8, 2017, according to EIA estimates. This represents a net increase of 91 Bcf from the previous week. Stocks were 179 Bcf less than last year at this time and 43 Bcf above the five-year average of 3,268 Bcf. At 3,311 Bcf, total working gas is within the five-year historical range.

NYMEX Natural Gas Week-to-Week Price Change NYMEX Natural Gas Week-to-Week Price Change

Natural Gas Futures - Five Year Price ($ per mmBtu)

NYMEX Natural Gas Week-to-Week Price Change - Five Yearly Snapshot

Disclaimer: The information contained in these reports is gathered from public and/or internal sources and is presented solely for the convenience of our customers and Newsletter Subscribers. Patriot Energy Group makes no representation or warranty, express or implied as to the accuracy or completeness of the information set forth in this newsletter, and Patriot Energy shall not have any liability to any person or entity resulting from use of this information in any way.
 
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