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New England Power Officials Warn of Pending Winter Crisis as Natual Gas Prices Skyrocket and Electricity is Likely to be Rationed
New England consists of six states in the US Northeast, Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. The states have been warned by regional ISO electricity providers for several years about their vulnerability if the winter weather is harsh and there is a significant increase in demand for home heating. Those warnings are now multiplied by the massive price increases for natural gas.Keep in mind as all these natural gas and LNG issues surface, the U.S. has been exporting natural gas to Europe as part of the Biden effort to subsidize the NATO effort against Russia. Prices for natural gas have skyrocketed, and now shortages of the fuel source for energy production may create even bigger problems for New England.
[Via Zero Hedge] – […] The region’s power mix changes have left it increasingly reliant on international NatGas spot markets. State governors have asked US Energy Secretary Jennifer Graholm to waive the Jones Act and allow foreign-owned tankers to ship LNG from the US Gulf region.
All of this has led to New England residents facing some of the highest electricity bills in years. Heating season is already underway.
New England ISO expects the grid will be stable if there’s a mild-to-moderate winter. However, if there’s an extreme cold spell across the Northeast, then grid chaos could unfold: “The grid overall is in a much tighter position.
“If we get a sustained cold period in New England this winter, we’ll be in a very similar position as California was this summer,” Nathan Hanson, a senior vice president of energy and commercial management of LS Power Development LLC, which has two NatGas power plants in New England, warned. (more)
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[Via Wall Street Journal] – New England power producers are preparing for potential strain on the grid this winter as a surge in natural-gas demand abroad threatens to reduce supplies they need to generate electricity.
New England, which relies on natural-gas imports to bridge winter supply gaps, is now competing with European countries for shipments of liquefied natural gas, following Russia’s halt of most pipeline gas to the continent. Severe cold spells in the Northeast could reduce the amount of gas available to generate electricity as more of it is burned to heat homes.
The region’s power-grid operator, ISO New England Inc., has warned that an extremely cold winter could strain the reliability of the grid and potentially result in the need for rolling blackouts to keep electricity supply and demand in balance. The warning comes as executives and analysts predict power producers could have to pay as much as several times more than last year for gas deliveries if severe weather creates urgent need for spot-market purchases.
New England Power Officials Warn of Pending Winter Crisis as Natual Gas Prices Skyrocket and Electricity is Likely to be Rationed - The Last Refuge
New England consists of six states in the US Northeast, Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. The states have been warned by regional ISO electricity providers for several years about their vulnerability if the winter weather is harsh and there is a...
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