Episode
72

Energy Markets in 2023 with James Williams

February 15, 2023
|
Duration:
1864376
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In This Episode:

Join David Arkell, Lysandra Naom, and market expert James Williams on an episode all about the energy markets as of 2023. This episode features gas market changes, North American market evolution, client impacts, and more. Check out our 360 Carbon Excellence Program.

Highlights

  • Natural Gas Price Volatility: In 2022, natural gas prices surged above $9 per MMBtu due to cold weather, high demand, and supply challenges but dropped to around $2.50 by early 2023 as storage levels normalized.
  • Weather and Storage Impact: Colder-than-normal weather in early 2022 depleted gas storage, driving prices up. Conversely, mild winter conditions in late 2022 allowed storage to replenish, stabilizing prices.
  • Risk Management and Customer Response: The 2022 price spikes have heightened customer awareness of proactive risk management strategies, including setting target prices to hedge against future volatility.
  • Supplier Credit Requirements: Elevated gas prices have tightened credit requirements from suppliers, as they seek to mitigate risks associated with customers defaulting during price peaks.
  • Transition to Renewable Energy: High natural gas and electricity costs are prompting some companies to invest in on-site renewables, offering price stability and reduced dependence on volatile fossil fuel markets.

    • Key Insights

    • Adaptation to High-Price Risk: Companies are increasingly budgeting for energy costs and adopting secure, fixed pricing to avoid market volatility and ensure financial predictability.
    • Proactive Energy Strategy: By setting cost thresholds and leveraging hedging options, businesses can respond swiftly to price movements, mitigating the risk of operational disruptions.
    • Increased Focus on Energy Efficiency: Elevated energy prices have made long-payback efficiency projects more financially viable, driving interest in energy-saving technologies and retrofits.
    • Supplier-Customer Dynamics: Credit history and financial health are now critical factors for customers seeking favorable pricing, as suppliers assess credit risk more rigorously before setting terms.
    • Long-Term Shift to Renewable Investments: Investments in solar and on-site renewable generation are gaining traction as companies seek stable, low-carbon energy solutions in response to rising carbon taxes and volatile fossil fuel markets.
    Share this story
    Energy Markets
    Carbon Tax
    Natural Gas
    Risk Management
    Renewable Energy
    Energy Costs
    Energy Efficiency
    Electricity Costs
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    Hosts:
    David Arkell

    David Arkell

    President & CEO

    360 Energy

    John Pooley

    John Pooley

    Vice-President, Program Development

    360 Energy

    Lysandra Naom

    Lysandra Naom

    Project Manager

    ENWIN Solutons

    James WIlliams

    James WIlliams

    Senior Analyst

    360 Energy Inc.

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