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WEEKLY MARKET UPDATE
August 1, 2019
Community solar offers energy users a great opportunity to save money on their energy bills. The State of New York aims to have 6,000 Megawatts of Community Solar installed by 2030, with under 100 MWs currently installed, it's important for energy users to understand these offers and how these programs works.
EnergyMark is co-developing a community solar project of our own here in Western New York at West Valley that is set to be operational in 2020.



Some of the benefits include:

No upfront or installation cost
No panels on your property
No impact to current supply or delivery situation
Roughly $0.01/kwh credit

Here's how it works:

Rather than installing panels on your roof, a developer installs thousands of panels at a remote location.
Energy users or "subscribers" sign on to the project to agree to take a piece of the power generated. The project cannot run unless subscribers have agreed to take the power, so developers are willing to give you a credit to do so.
The project generates power and credits are generated. A portion of the credits go back to fund the project, but the remaining go onto your bill to create savings for the customer.

More info on that project here

Give us a call or reply to this email to see how much your business could save!
Natural Gas

August 2019 reached its final settle on Monday, falling 2.8 cents to $2.141/MMBtu. This set a 38 month low for the prompt month fueled by milder temperatures.

After two days of rebounding, a larger than expected injection this morning stifled any upward momentum. Total gas in storage is now 334 Bcf above this time last year.
Electricity

Real time power prices are trending back down after being elevated by high temperatures for over a week. The 30 day average is now $30.29/MWh.

Electricity futures are bouncing around a bit with the rebound of natural gas. Overall futures are still down from last week with the 12 month strip at $31.94/MWh.
 
 
12 & 24 Month NYMEX Strip
12 & 24 Month Zone A Power Strip
 
 
 
This document is intended for indicative purposes only. All information contained within this report is acquired from third party sources and EnergyMark makes no representations or warranties, express or implied, as to the accuracy of the information provided herein. EnergyMark is not liable for any actions or decisions made in reliance on the information provided in the report.
 
WEATHER WATCH
 
NOAA 8-14 Day Outlook
NOAA 30 Day Outlook
 
 
 
 

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