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#1072344 --- 09/02/09 08:28 PM Re: NYSEG asking for a 9 % increase. [Re: Dinky Dau]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
They changed the meter and the readings went back to normal. How many clues do they need?
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#1072707 --- 09/04/09 12:50 AM Re: NYSEG asking for a 9 % increase. [Re: Taxpayer14456]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Taxpayer14456
Too bad NYSEG can't give us just a 9% increase in customer service satisfaction.



Will NYSEG pass along this lower price to their customers?

Gas May Drop From Seven-Year Low to Less Than $2, Options Show

By Reg Curren and Dinakar Sethuraman

Sept. 4 (Bloomberg) -- Natural gas futures are poised to fall further after trading at the lowest in seven years in New York as stockpiles grew to a record for this time of year, according to options data and analysts.

The cleaner-burning fuel, down 56 percent this year, may plunge another 20 percent to below $2 per million British thermal units as new liquefied natural gas supplies come on stream, said Tony Regan, a consultant for Singapore-based Tri- Zen International. Trading of bearish options on the U.S. Natural Gas Fund rose to a record as investors bet that the exchange-traded fund tracking gas futures will keep tumbling.

“I would not touch that market until I see a $1 handle in the next month,” Jonathan Kornafel, a director for Asia at options traders Hudson Capital Energy. “The fundamentals are just too strongly bearish for this thing to turn around.”

Natural gas for October delivery fell 0.3 percent to $2.501 per million British thermal units at 10:10 a.m. Singapore time on the New York Mercantile Exchange. The contract declined 7.6 percent yesterday to settle at $2.508, the lowest close since March 5, 2002.

Supplies of gas rose 65 billion cubic feet in the week ended Aug. 28 to 3.323 trillion cubic feet, the Energy Department said. Inventories are the highest for that week since the department began publishing data in 1993. New LNG projects in Qatar, Yemen and Indonesia, which may reach capacity in 2010, coupled with weak Asian demand may send supplies to the U.S.

Puts Surge

Volume for puts, giving the right to sell the ETF, rose yesterday to 220,165 contracts, or 2.6 times the four-week average, as options traders bought the contracts to protect from a further drop if the fund extends its 61 percent slide this year. Puts traded 1.4 times more than calls, which give the right to buy the shares.

“LNG is going to put further downward pressure on Henry Hub,” Regan, who formerly worked for Royal Dutch Shell Plc, said in an interview. “We could go lower than $2, it hasn’t finished yet.” Demand hasn’t increased in Europe, and U.S. domestic output has been higher than expected, which will put further pressure on Henry Hub, the U.S. gas benchmark, he said.

Overall U.S. gas consumption may contract by 2.6 percent as the recession that began in December 2007 cuts demand, the Energy Department said in its monthly Short-Term Energy Outlook on Aug. 11.

Gas use at factories is forecast to tumble 8.6 percent this year because of the recession, the department said. Stockpiles typically gained 64 billion cubic feet for the period in the past five years.

‘Little Demand’

“We’re well supplied and there’s so little demand,” said Michael Rose, director of trading at Angus Jackson Inc. in Fort Lauderdale, Florida. “Some people are starting to question the economic recovery and that adds more pressure to gas.”

Natural gas for delivery in January settled at $4.819 per million Btu, a premium of about $2.311 to October futures. When prices for future delivery are higher than near-month contracts it’s a situation known as contango, which typically encourages companies to put supplies in storage now for use later.

October 2009 $3 call options were the most active natural gas options yesterday, based on Nymex electronic trading data as of 3:31 p.m. They fell 7.5 cents to 8 cents.

October 2009 $2 puts, the second-most active, rose 1.8 cents to 5.2 cents and were followed by the $2.50 puts, which gained 6.9 cents to 23 cents.

The $2 put, which became available on March 11, was trading at its highest price ever yesterday and has risen from a contract low of 0.8 cent reached on Aug. 6 as futures declined 33 percent.

Storage Shortage

“We’re getting to the point where people are starting to worry about where they’re going to put gas and what that entails for the market,” said Brad Florer, a trader at Kottke Associates Inc., a commodity futures broker in Louisville, Kentucky. “If they have to take gas to market, instead of putting it in storage, the front end of the curve will continue to get whacked.”

Peak natural gas storage capacity rose 100 billion cubic feet to an estimated 3.889 trillion cubic feet as of April as operators expanded to meet rising production, according to an Energy Department report on Aug. 31.

The previous high for storage is 3.545 trillion cubic feet, reached on Nov. 2, 2007, according to the department.

“The physical aspect of the commodity is becoming a problem, unless some demand comes on quickly or we get some weather that changes things,” said Florer. “As long as those things remain constant, like they have for months now, then I don’t think the bulls have much to hang their hats on any time soon.”
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#1073616 --- 09/06/09 07:18 PM Re: NYSEG asking for a 9 % increase. [Re: trump]
natron717 Offline
Member

Registered: 12/16/07
Posts: 106
Loc: Seneca Falls, NY
This is why all monopolies are to be resisted...and all of them result from government regulation! (In a true free market, a monopoly can be challenged and undercut. Try doing that to NYSEG, USPS, MEDICARE, etc. when they have tax subsidies.)
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#1081067 --- 09/24/09 09:03 PM Re: NYSEG asking for a 19 % increase. [Re: natron717]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Are they now asking for a 19% increase?
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#1081653 --- 09/26/09 11:46 AM Re: NYSEG asking for a 9 % increase. [Re: BraveHeart]
Laurence Offline
Member

Registered: 05/11/07
Posts: 123
Loc: New York, USA
If you like the 9% increase NYSEG is asking for - - you'll love Obama's Cap and Trade program...... look for at least $1400 increases on each homeowner ... on top of that 9 % increase....

http://www.taxfoundation.org/publications/show/24472.html

Calculate what it might cost you here:
http://www.taxfoundation.org/capandtrade

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#1103316 --- 11/13/09 06:14 AM Re: NYSEG asking for a 9 % increase. [Re: Dinky Dau]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Dinky Dau
My way of getting even with NYSEG is by looking into alternative power screw them. Pull the plug


saw some solar panels for sale on CL
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#1103317 --- 11/13/09 06:15 AM Re: NYSEG asking for a 9 % increase. [Re: Laurence]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Is NYSEG going to eliminate the "voice your choice" program?
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#1103392 --- 11/13/09 09:39 AM Re: NYSEG asking for a 9 % increase. [Re: bluezone]
ponyk Offline
Member

Registered: 11/06/08
Posts: 97
Loc: upstate
sure and work this morning we were told pay freezes at least the next 2yrs. and the price of our insurance went up..great way to look at next year early

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#1132082 --- 01/12/10 07:19 AM Re: NYSEG asking for a 9 % increase. [Re: ponyk]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Wonder how this months bill will look?
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#1132093 --- 01/12/10 07:55 AM Re: NYSEG asking for a 9 % increase. [Re: bluezone]
Mountain Man Offline
Senior Member

Registered: 10/27/07
Posts: 2432
Loc: out there
bluezone, I have contacted windtamer. Go to their webstie...very cool...I have an estimate coming...able to go off the grid.


http://www.windtamer.com
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#1132096 --- 01/12/10 08:00 AM Re: NYSEG asking for a 9 % increase. [Re: Mountain Man]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
I saw them on YNN as they have installed their first unit and expect more to follow. Be curious to find out the size and the price.
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#1132244 --- 01/12/10 02:53 PM Re: NYSEG asking for a 9 % increase. [Re: bluezone]
Mountain Man Offline
Senior Member

Registered: 10/27/07
Posts: 2432
Loc: out there
They gave me a price of $17,500. The tax incentives total 50%, so the cost isn't much more than a good whole house back up generator system. The plus is you get to sell electricity back to the utility as well. Gotta love that! We are going to meet with them to see if we can negotiate a bit. I really want to move on this. Nothing would be better than being off the grid.
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#1132563 --- 01/13/10 07:38 AM Re: NYSEG asking for a 9 % increase. [Re: Mountain Man]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
how many kilowatts is the unit?
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#1132572 --- 01/13/10 07:59 AM Re: NYSEG asking for a 9 % increase. [Re: bluezone]
Mountain Man Offline
Senior Member

Registered: 10/27/07
Posts: 2432
Loc: out there
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Some people never go crazy, What truly horrible lives they must live--Charles Bukowski

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#1132575 --- 01/13/10 08:07 AM Re: NYSEG asking for a 9 % increase. [Re: Mountain Man]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Mountain Man
The plus is you get to sell electricity back to the utility as well.


NYSEG would probably only give you $0.02 per kilowatt
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"OUR COUNTRY IS IN MOURNING, A SOLDIER DIED TODAY."

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#1133238 --- 01/15/10 04:28 AM Re: NYSEG asking for a 9 % increase. [Re: bluezone]
Mountain Man Offline
Senior Member

Registered: 10/27/07
Posts: 2432
Loc: out there
It still seems reasonable to me...just a little more than back up generation. I am concerned about the reliability though...need to go see it in action.
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#1134170 --- 01/17/10 03:00 PM Re: NYSEG asking for a 9 % increase. [Re: Mountain Man]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Did they give you a "life span" of the unit?
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"OUR COUNTRY IS IN MOURNING, A SOLDIER DIED TODAY."

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#1134204 --- 01/17/10 04:35 PM Re: NYSEG asking for a 9 % increase. [Re: bluezone]
Mountain Man Offline
Senior Member

Registered: 10/27/07
Posts: 2432
Loc: out there
no, we havent met face to face yet. They have a 6 year warranty ...which mean a lot to me....but we'll see once we are eye-to-eye.
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Some people never go crazy, What truly horrible lives they must live--Charles Bukowski

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#1134205 --- 01/17/10 04:35 PM Re: NYSEG asking for a 9 % increase. [Re: bluezone]
Mountain Man Offline
Senior Member

Registered: 10/27/07
Posts: 2432
Loc: out there
no, we havent met face to face yet. They have a 6 year warranty ...which mean a lot to me....but we'll see once we are eye-to-eye.
_________________________
Some people never go crazy, What truly horrible lives they must live--Charles Bukowski

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#1134345 --- 01/18/10 06:50 AM Re: NYSEG asking for a 9 % increase. [Re: Mountain Man]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Mountain Man
They have a 6 year warranty


Hopefully the pay back is less than 6 years.
You may want to ask which parts are more likely to fail first and the cost to replace.
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