API Chief Economist Erica Bowman highlighted the positive impact that improved energy infrastructure could have on utility prices during Friday’s press conference call on the energy outlook for the 2016 - 2017 winter season. Bowman’s opening remarks, as prepared for delivery, are available on API’s website.
“This winter, American consumers are set to face colder temperatures as compared to last year,” said API Chief Economist Erica Bowman. “The Energy Information Administration (EIA) estimates that temperatures in the Northeast, Midwest, and the South are expected to be up to 20% lower than last winter. With temperatures set to drop outside, American consumers will continue to rely on natural gas as the most prominent energy source to heat their homes.
“Given that natural gas and electricity are the dominant choices for home heating and that the electricity sector is continuing to use more natural gas as an affordable, reliable and environmentally friendly fuel choice, natural gas supplies and infrastructure now matter more than ever to consumers. In addition to its positive impact in utility prices, new and improved energy infrastructure will help our nation continue leading the world in the production of oil and natural gas and in the reduction of carbon emissions, which are near 20 year lows.”
Bowman specifically highlighted New England as a region of the country that has paid more than 50% more for electricity and explained that increased infrastructure in the region could have a positive impact on utility prices.
To view API’s new video on the need for increased infrastructure in the region click here.
Read the article online at: https://www.hydrocarbonengineering.com/refining/31102016/increased-energy-infrastructure-needed-during-winter-season/