AUSenergy News Update 07/15/2015
Jul 15, 2015

In today’s AUSenergy News Update:  New study shows consumers better off with customer choice,  Crude futures settle higher on Iranian deal, and California struggles with capacity in summer heat.

Compete Says Study Provides Empirical Evidence, Shows Consumers Better Off With Customer Choice

Summary:  The Compete Coalition released a new study showing that after nearly two decades, empirical data demonstrates that customer choice jurisdictions out-perform or at least compare favorably in terms of improved price, investment and reliability, with those states using a utility only system.

AUS Comment: These findings support our belief that competition inherently brings innovation and offers greater benefits for consumers. We believe it’s time all states had the right to energy choice. EcoVision Sustainable Learning Center is a non-profit lending their voice to the fight for energy choice. Help them change the status quo. Sign their petition for Energy Freedom in Wisconsin; one of many states/cities they plan to support in this energy battle.

Crude futures bounce off lows to settle higher on Iranian deal

Summary: ​ Crude futures closed higher Tuesday, recovering from early declines, as the market recognized the just-announced Iranian nuclear deal will unlikely lead to a large jump in Iranian crude exports this year. Iranian oil is not expected to hit the market until well into 2016. But Iran’s oil minister, Bijan Zanganeh, has said Tehran can double its exports — currently around 1 million b/d of crude — within months of sanctions being lifted.

AUS Comment:  With the market already in a surplus, we agree that prices are likely to flatten out toward the end of 2016, once the additional supply of oil is confirmed and in the marketplace. However, this is not the time for consumers or businesses to become complacent with anticipated lower energy costs. Oil is STILL a fossil fuel and we still need to be looking at upping our renewable energy resources.

California struggles with gas capacity in summer heat

Summary:   California electric utilities are struggling to meet peak demand in hot summer weather due to constraints on their natural gas supply. A combination of demand response programs and public conservation kept demand below dangerous levels, but the demand for gas remained high. During the peak hour July 1, gas supplied more than 62% of the state’s power.

AUS Comment:  California is in a state of change, moving their energy needs more and more to renewable sources, with natural gas as their go-to, filling in when renewable energy is not being generated. And until battery power truly becomes a reality for capturing renewable energy, California will remain vulnerable to being able to respond adequately to peak demands.

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