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Patrick McGarry's picture
Senior Director / Customer Success, PCI

Patrick recently joined PCI as a Senior Director in May, 2019. He owns over 32 years of experience in commodity trading and owns an extensive record working closely with energy market...

  • Member since 2004
  • 117 items added with 47,582 views
  • Oct 28, 2021

As tough as some U.S. utility electricity bills may be to receive this winter, we should consider ourselves quite fortunate compared to Europe and Asia.

Capital has a funny way of flowing to where it feels most welcomed.

"For Asia, liquefied natural gas spot prices are at the equivalent of roughly $200 a barrel, quintuple from a year earlier. Meanwhile, U.S. natural gas wallows at the equivalent of about $35 a barrel.
The U.S. can thank its limited LNG export volume due to capacity constraints for the relatively small rise in prices, insulating its market from the impact of European and Asian demand."

That said, the utility industry is facing a growing problem.

In late 2020, electric and gas utilities had $32 billion in arrears, with up to 20% of homes behind on utility payments. As a result, thousands of dollars in arrears have piled up in the accounts of many low-income households.

There are no easy, clear cut answers to solving the dilemma.

Matt Chester's picture
Matt Chester on Oct 28, 2021

It seems like maybe we're running out of band-aid solutions-- add this to the pile of large-scale transformations needed in the industry across the globe!

Patrick McGarry's picture
Thank Patrick for the Post!
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