Natural Gas Update: 82 Billion Cubic Feet Added to Storage Last Week

By Vernon T., May 5, 2009, News, Special Offers

The Energy Information Agency said that last week that 82 billion cubic feet (Bcf) of natural gas was put into storage in this country which is a record for this year. This brings the current underground storage supply to 1823 Bcf or 22.5% above the five year average.

All told, that's an awful lot of natural gas. And as most consumers know, a high supply means natural gas prices will be low.

Since Texas electric power is mostly generated from natural gas, that means the electricity rates might continue dropping into the beginning of summer. As of May 5, even the natural gas futures markets show only a slight increase through September despite consumption during the annual summer air conditioning-load peak.

Which is great news if you are moving, or looking to get out from under that fixed rate plan for a money-saving variable rate plan.

Bounce Energy has launched three great summer promotion plans to help you save money on your electricity: Express Move, Blue Sky, and Summer Shield.

Like other Bounce Energy Plans, there's no contracts, no termination fees, and you can get your power turned on the very same day.

The EIA also added "With the moderate temperatures of springtime during the report week, there was likely little weather-related demand. As a result, industry was able to continue the process of building storage inventories…"

So, if the weather holds, maybe another record-setting week?

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