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admin 10.06.2015

But a number of factors, including unpredictable winter temperatures and the strength of the Canadian dollar, could create a perfect storm and trigger a spike in energy prices, much like the one that occurred last year. But a spike in demand for propane to dry crops in the United States and one of the longest and coldest winters in nearly four decades resulted in heating fuel shortages for farmers and rural residents, and higher overall energy prices. Home heating oil and natural gas prices skyrocketed along with the cost of propane — so much so that industry observers were fearful of a price hangover for this winter. Midway through the last heating season, the federal government ordered a review by the National Energy Board and the Competition Bureau of of pricing and supply issues in the country’s energy markets. That review was completed in April but no government legislative actions were taken as a result. For the upcoming season, some industry players have changed the way they prepare for the winter. It also changed how it buys supply, doing it early in the season as customers draw down stored reserves, rather than waiting until supplies are diminished later in the season when the open market could be vulnerable to wide price fluctuations. One underlying concern that’s already on the horizon is the supply of natural gas in western Canada.
The shortfall has resulted in natural gas storage within a range that’s lower than the five-year minimum average overall, although reserves in eastern Canada are at or above the five-year average.

If there’s a repeat of last year in the Toronto area, Enbridge said it has enough natural gas in storage to easily supply all of its customers. But if the weather turns colder than expected in the West, that could put upward pressure on prices as supplies are used up, said LeBlanc. At the same time, inventories were down by about 15 per cent by the end of August compared with the same time a year ago as well as the previous five-year average. In Canada, lower spot prices have already resulted in some utilities passing on the savings to consumers, at least in the run up to winter. Home heating energy consumption in Canada has dropped over the past 20 years largely as a result of conservation efforts and home retrofitting programs.
And LeBlanc says homeowners should continue to heed the advice of conservation advocates to save money, by reinsulating drafty windows and doors and turning down the thermostat at night.
The Canadian Press along with its French-language counterpart, La Presse Canadienne, is a Canadian multimedia news agency. The rapid development of the world economy and aggressive use of fossil fuels has increased carbon dioxide (CO2) emissions, accelerating climate change and threatening the natural ecological balance.
In order to help our communities and to help the environment, we must find sustainable energy solutions.

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That didn’t happen, though, largely because producers pumped out excess supply over the summer. Energy Information Administration reported a 15 per cent drop in spot prices for natural gas in September despite fast-paced production and storage of the fuel that exceeded historic norms.
Canada had reserves of 723 billion cubic feet during the same month last year while the five-year minimum average was at 632 bcf. He has a felony fraud conviction, according to court records.The men aren't in custody yet. Harrisonville is in Cass County.More >Savannah Nash celebrated her 16th birthday last week.

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