Once again, CA ratepayers get the shaft
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DAILY ENERGY NEWS | 09/16/2024
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** Higher electricity prices, less reliability. Welcome to the Green New Deal.
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The Sacramento Bee ([link removed]) (9/12/24) reports: "Northern California customers of Pacific Gas & Electric Co. will see their utility bills rise again this year after regulators approved another new rate increase Thursday. It marks the fourth rate increase for PG&E customers this year. The California Public Utilities Commission (PUC) approved the hike with a 4-0 vote on its 'consent agenda,' a process that involved no discussion among the commissioners. The increase, which amounts to $6 per month on average for each electric customer, is intended to help PG&E recover approximately $944 million in costs associated with winter storms during the 2022-23 season and wildfire mitigation efforts. Considered a temporary rate hike, the increase will go into effect next month and sunset after 17 months. The approved rate increase comes as PG&E recovers from a challenging winter season, when it restored power to 7 million
customers after 15 major storms damaged thousands of utility poles and hundreds of miles of wires. PG&E said to regulators that recovering those costs now will help lower expenses for customers in the long run by allocating them to those who were customers when the costs were incurred. Utility representatives said PG&E is attempting several strategies to limit future rate hikes."
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** "Renewable power is not a replacement for baseload power as it is so commonly portrayed by advocates of renewables. One would hope that people will start to understand that renewables are a uniquely different category of generation. As such, one should approach integration of renewable power sources onto the power grid with prudence."
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– B ([link removed]) ill Ponton, Princeton Venture Advisory ([link removed])
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Relying on courts to always get it right is political dysfunction at its finest.
** E&E News ([link removed])
(9/13/24) reports: "A federal judge has blocked the Interior Department from enforcing its new methane rule in five Western states. In an order issued late Thursday, the U.S. District Court for the District of North Dakota said the Biden-era rule from Interior’s Bureau of Land Management represents a 'significant impingement' upon states’ rights. He halted the regulation in North Dakota, Texas, Utah, Montana and Wyoming. 'This case is an example of where the left hand of the government does not know what the right hand of the government is doing,' wrote Judge Daniel Traynor, finding that BLM would 'suffer little, if any, harm by preserving the status quo' until litigation over the agency’s rule is resolved.''
The Unregulated Podcast #199: Turning the Page
** AEA ([link removed])
(9/116/24) podcast: "Tom Pyle and Mike McKenna discuss Vice President Harris’ new found love of fracking, the upcoming budget battle on Capitol Hill, and the latest pot-holes on the road to an 'all-EV' future."
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** Listen Here ([link removed])
"Texas has yet to learn submission to any oppression, come from what source it may."
~Sam Houston
** EIA ([link removed])
(9/10/24) reports: "Natural gas pipeline takeaway capacity in the Permian Basin will soon increase as the Matterhorn Express Pipeline, with a capacity of 2.5 billion cubic feet per day (Bcf/d), is expected to begin service this month, according to EnLink Midstream, one of the project’s stakeholders. Matterhorn (a joint venture with Whitewater, EnLink Midstream, Devon Energy, and MPLX) will transport natural gas from the Permian Basin to Katy near Houston, Texas. Natural gas production from the Permian Basin—primarily associated gas from growing oil production operations—has more than doubled since 2018, reducing regional spot natural gas prices and prompting greater demand for new pipeline takeaway capacity to transport natural gas to more viable markets. In addition to Matterhorn, three new Permian Basin pipeline projects with a combined capacity of 7.3 Bcf/d have been approved and are in various stages of development:
* Apex Pipeline, with a capacity of 2.0 Bcf/d, is designed to transport natural gas from the Permian Basin to Port Arthur, Texas. Operator Targa Resources expects the pipeline to enter service in 2026.
* Blackcomb Pipeline, with a capacity of 2.5 Bcf/d, is designed to transport natural gas from the Permian Basin to Agua Dulce in south Texas. Operator Whitewater Midstream expects the pipeline to enter service in 2026.
* Saguaro Connector Pipeline, with a capacity of 2.8 Bcf/d, is designed to transport natural gas from the Permian Basin to the U.S.-Mexico border. We expect the pipeline, which connects with the Sierra Madre pipeline on the Mexico side, to enter service by 2027–28.
Pipeline operators have also announced other projects with a total capacity of 7.0 Bcf/d designed to transport natural gas from the Permian Basin to demand centers in Mexico and along the Texas Gulf Coast. These projects, if realized, could come into service between 2025 and 2028."
Energy Markets
WTI Crude Oil: ↑ $68.86
Natural Gas: ↑ $2.31
Gasoline: ↓ $3.21
Diesel: ↓ $4.04
Heating Oil: ↓ $207.12
Brent Crude Oil: ↑ $71.75
** US Rig Count ([link removed])
: ↓ 629
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