November Monthly Newsletter & Weekly Market Summary

November 2021

WTI crude prices closed at $83.57 per barrel on Friday, down 0.2% from the week prior. After hitting all-time highs mid-week, crude prices eased off in recent days as global demand remains uncertain due to ongoing outbreaks of the coronavirus.

December natural gas futures dropped less than 1%, as November settled for the month above $6 following a steep run-up. An above-average storage injection continued to improve supplies heading into winter, however increased LNG exports may limit sustained builds.

Prices rose last week as temperatures begin to drop. The NEPOOL 12-mo. strip rose just under 1.0% week-over-week to $73.46/MWh on Friday.

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La Niña is Near: What Does That Mean for Energy Prices and Your Business?

By Max Webb, Managing Director of Pricing Analytics and Zack Hallock, Energy Services Advisor

Now that we have taken off our Halloween costumes, eaten the leftover trick-or-treat candy, and put away the last of our spooky decorations, we are faced with an even scarier image: winter. Weather is a constant factor in the energy industry -- from determining the annual system peak which sets electricity cap tags, to extreme weather events calling fuel security into question, to hurricanes disrupting oil refineries in the gulf, and more.

As we make this transition from fall to winter, meteorologists and energy traders are shifting their focus and fine-tuning forecasts so that we can all be prepared...

ISO-NE Winter 2021/2022 Fuel Security

In the latest installment of CES University’s CES Energy Intel series, Managing Director of Consulting Services, Eben Perkins, tackles an update on fuel security for the 2021/2022 winter season in the New England region. Through this segment, CES aims to provide informed insight on changes in the gas market over the last six months which directly affect future fuel security for our clients. Should you have any questions about fuel security, or your own winter energy plans, please reach out to Eben at [email protected] or contact your Energy Services Advisor today.

Click here to watch "ISO New England Winter 2021/2022 Fuel Security" on YouTube

The Importance of Monitoring Your Energy Bills

How closely do you monitor your energy bills? Do you review them with a fine-tooth comb? Or do you “set it and forget it” with an auto-pay feature? CES recommends that clients periodically review their utility and supply invoices to ensure accuracy. Below are a few thoughts to keep in mind when reviewing your invoice:

Supply Contract Details: If you are reading this newsletter, you likely have third party competitive supply contracts in place for your energy commodities. Keep high-level details of those contracts handy so you can easily confirm the invoice matches, including Supplier Name, Term, Price, and Product.

Billing Method: For electricity, you may receive two separate invoices for utility and supply costs (dual billing), or one invoice covering both utility and supply costs (utility consolidated billing). For natural gas, you will receive two invoices (one from the utility and one from the supplier) unless you receive your supply from the utility.

Download our informational PDF titled How to Read Your Invoice to learn some helpful tips on reading your invoice. If you have questions about your energy invoice, feel free to contact your Energy Services Advisor or Max Webb, Managing Director of Pricing Analytics a [email protected].

DOWNLOAD THE "HOW TO READ YOUR INVOICE" PDF

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CES Representatives Attend Ribbon Cutting for ECA Maine BET LLC

On October 14, Andy Price, President and COO of Competitive Energy Services, LLC (CES) and Charlie Agnew, Managing Director of Energy Services visited the first large solar array built by ECA Solar/Standard Solar under Maine’s expanded Net Energy Billing program and attended an official ribbon cutting event at the Bethel, Maine site.

A consortium consisting of 24 of CES’ key clients including the University of Maine, L.L. Bean, and the City of Portland are now receiving the financial and environmental benefits of this new solar project in Bethel. This 5.7 megawatts dc project came online in September 2021 after approximately 10 months of construction and more than two years of planning. The new solar installation project is owned and operated by Standard Solar and developed in partnership with ECA Solar. This project is part of Maine’s Net Energy Billing (NEB), which allows Maine utility customers to offset their electric bill using the output produced by renewable energy projects, like community solar farms.

CES is pleased to see these benefits begin to flow to our clients after nearly two years of work organizing the Consortium. It is gratifying to see a project like this up and running and to know that it will produce carbon free electricity to the grid for the next 20 years.

Through Road Trip, Competitive Energy Services features various energy infrastructure projects – road trip style. We have always enjoyed visiting and learning about the physical energy infrastructure that powers our world. Our colleagues, families, and friends are often subject to detours on business trips and family vacations.

Meet Max Webb

Max Webb

Managing Director of Pricing Analytics

Email: [email protected]

Maxwell Webb joined Competitive Energy Services as a Pricing and Data Analyst in fall 2016 and was promoted to Managing Director of Pricing Analytics as of 2021. His interests include renewable energy and energy analytics. Max’s responsibilities at CES consist of energy procurement, weather forecast monitoring and reporting, data analysis projects, and budgeting for full-service clients. He holds a B.S. in Energy, Business and Finance from Penn State University.

What do you like best about your job?

I enjoy helping clients and colleagues solve problems. A lot of the issues that arise are like puzzles, so I enjoy digging into data or bills and putting the pieces together.

Customer engagement and interaction is a significant part of your job and that of your pricing team. What's unique about the CES approach? What drives your and your team's success in this area?

I feel we really go the extra mile for our clients. Our services do not stop once the contract is signed. If any questions or complications pop up along the way, we are here to help. We always try to close the loop and ensure all loose ends are tied up.

What led you to CES and to working in this field?

I grew up in central Pennsylvania during the natural gas shale boom, so energy always interested me. Those interests expanded into climate change and renewable energy, which led me to an energy-focused degree. After I graduated, CES was the first company that gave me a shot in the industry, and I jumped at the opportunity. On top of learning the ins and outs of energy, my role at CES has allowed me to collaborate on renewable energy-related projects helping to curb climate change.

What are some of your hobbies and interests?

I’m an avid Penn State and Philadelphia Eagles fan. I also enjoy watching movies and television shows, playing video games, hiking, golfing, and trying out all of the great food and craft beers Portland has to offer.

Staff Picks: Max's Pick...

The Energy Gang: A Wood Mackenzie Podcast

The Energy Gang is the leading energy podcast hosted by Stephen Lacey, Katherine Hamilton, and Jigar Shah. They provide weekly discussions about the latest trends in energy, cleantech, renewables, and the environment.