April 2023

Key Takeaways

The WTI 12-month rolling strip settled at $73.14/Barrel on Friday, showing gains of 6.7% from the week prior. Crude futures are supported by larger than expected withdrawals in U.S. oil stockpiles and tightened global supply. The natural gas prompt month futures stayed flat week over week to settle at $2.22. Futures remain stable as we move away from the heavy withdrawal season and with April weather reports turning warmer than originally forecasted. New England electricity prices remain relatively stable, moving down slowly but consistently over the past few weeks. The NEPOOL 12-month strip decreased 1.08% week-over-week, settling at $65.47/MWh.

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Hydrogen: Poised for Growth

By By Andrew Price, President & COO

Hydrogen is getting a lot of attention these days, and for some very good reasons. In the U.S. and Europe, hydrogen markets are poised for rapid expansion due to several factors....

Incentives: In the U.S. the 2021 Infrastructure and Investment and Jobs Act (IIJA) contained more than $9 billion in incentives for hydrogen – mostly targeted at creating multiple regional hydrogen manufacturing hubs. The 2022 Inflation Reduction Act (IRA) made more money available....

ISO-NE FCA17 Auction Complete with Adequate Capacity for 2026-27

On March 21, ISO New England (ISO-NE) published the results of their Forward Capacity Auction #17 (FCA 17), which determines the price at which participating generators are compensated for the generating capacity they provide to the New England grid. ISO-NE implements policies such as the FCA to maintain efficiency, establish reliability, and increase the stability of New England’s electric grid.

The Auction takes place every year and is held three years in advance to ensure ISO-NE has enough resources to cover expected peak demand for the given period. The auction refers to a capacity commitment period which runs from June 1 through May 31. This year’s auction closed on March 6 after four rounds of bidding between traditional power plants, renewable generators, imported resources, and expected load management and energy efficiency efforts. FCA 17 secured 31,370 MW of cleared capacity for the 2026-2027 commitment period, which is the lowest total cleared capacity in the history of the Auction. Prices across most of the region remained relatively stable from last year’s clearing prices (FCA 16) at $2.59 per kilowatt per month.

Photo by: Andrey Metelev

Construction Institute Summit To Feature CES' Sandy Beauregard

On Thursday, April 27, Competitive Energy Services’ (CES) Sandy Beauregard, Director of Sustainability Services, will participate in a panel discussion titled “Resilient and Sustainable – Women of Green” at the Construction Institute’s 2023 Women Who Build Summit, an annual two-day inspirational and educational networking event that celebrates the success of women in the construction, architecture, engineering, and design industry.

“Resilient and Sustainable – Women of Green” will focus on reversing the effects of climate change before it’s too late and influenced by findings in a recent study released by the Intergovernmental Panel on Climate Change (IPCC) titled AR6 Synthesis Report – Climate Change.

Joining Sandy on the panel are:

· Abbe Bjorklund, Director of Engineering and Utilities, Dartmouth College

· Janine Helwig, Director of Utilities, Department of Facilities, Massachusetts Institute of Technology

· Monica Kachru, Clean Tech Executive/Offshore Wind

· Martha Larson, Director of Sustainability, RMF Engineering

The Summit’s culminating event will feature a keynote address titled “How to Become an Agent of Change While Rockin’ and Rollin’, delivered by June Millington, Female Guitarist & Trailblazer and a pioneer for women in rock.

The event brings together women and men to celebrate, explore, connect, share opinions, and inspire the innovators and glass-ceiling breakers of tomorrow. To learn more and to register/sponsor, please visit the Construction Institute’s event website at https://www.thewomenwhobuild.org/about-us

CES Team News New Hire

Eric Strait joined CES as HR & Financial Analyst in 2023. He joins us after graduating from Hobart and William Smith where he studied Economics and English. During his academic pursuits, he conducted research on the effects of hospitality company profitability and American literature. At CES, Eric assumes responsibility for maintaining financial reports, streamlining the expense process, and leading special projects that improve workplace efficiency. Beyond his professional duties, Eric enjoys outdoor activities such as skiing, hiking, and playing golf.

Photo by Nina Callanan

CES ANNUAL SEMINAR Save the Date!

Mark your calendars for the annual CES Annual Seminar, scheduled for:

Wednesday, June 7, Noon - 1:15 p.m.

More information on seminar topics and a formal invitation to register will follow soon. Keep an eye on your inbox!

Staff Pick Andy Price

Termination Shock

By Neal Stephenson

One man—visionary billionaire restaurant chain magnate T. R. Schmidt, Ph.D.—has a Big Idea for reversing global warming, a master plan perhaps best described as “elemental.” But will it work? And just as important, what are the consequences for the planet and all of humanity should it be applied Termination Shock brings together a disparate group of characters from different cultures and continents who grapple with the real-life repercussions of global warming. Ultimately, it asks the question: Might the cure be worse than the disease? Epic in scope while heartbreakingly human in perspective, Termination Shock sounds a clarion alarm, ponders potential solutions and dire risks, and wraps it all together in an exhilarating, witty, mind-expanding speculative adventure. (Amazon.com Review)

Have an Energy Question?

If you have a pressing energy question, or would like to hear about a particular topic in a future edition of the CES Insider, please contact us on our website today. We look forward to hearing from you!

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