POUGHKEEPSIE – It may be colder so far this winter than last, but market conditions are helping to offset price spikes like those of last year, Central Hudson President James Laurito said Monday. Temperatures were five percent colder to date this month compared to last January, but he said, “We are fortunate that circumstances are moderating natural gas and electricity supply prices this winter. However, the reliable, long-term solution to controlling energy prices is investment in the electricity and natural gas transmission systems to relieve the current capacity constraints.”
Higher inventories of stored liquefied natural gas in New England, more robust hedging strategies and other factors are moderating market prices for natural gas and electricity this month compared with last year, he said.
Laurito did have a warning.
“However, developing adequate pipeline capacity will ensure fuel supplies can reach homes, businesses and power plants when needed, and moderate the market forces that can drive up prices,” Laurito said.
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