Cold Weather Decreases Gas Supply and Means an Increase in Utility Bills for Consumers

/ Source: GlobeNewswire

STAMFORD, Conn., Jan. 25, 2011 (GLOBE NEWSWIRE) -- Mother Nature seems to have unleashed her fury on the Northeast United States this winter blanketing the region in snow, ice, and frigid temperatures. The brutal winter weather has forced people to turn up their thermostats which in turn has lowered US storage levels of natural gas – meaning home owners may soon experience a shock when opening their utility bills.

We are seeing a significant drop in US storage levels of natural gas due to the extreme cold weather in the Northeast,  said Blas Pina, Director of Natural Gas Supply for MXenergy. This dramatic decrease in storage levels means homeowners need to start preparing for higher prices and look for ways to protect themselves and their wallets.

The Energy Department has reported that last week's storage drop was larger than the five year average decline of 133 billion cubic feet and the surplus to the five year average fell to 1.9 % from 5.8% the previous week.

About MXenergy

MXenergy is one of the fastest growing retail natural gas and electricity suppliers in North America, serving approximately 500,000 customers in 41 utility territories in the United States and Canada. For over 11 years, the company has provided millions of customers with a choice in how they purchase energy to run their homes and businesses. Founded in 1999 to provide natural gas and electricity to consumers in deregulated energy markets, MXenergy helps residential customers and small business owners control their energy bills by providing both fixed and variable rate plans. MXenergy is committed to best practices in environmental conservation, supporting local communities through various outreach programs and is a member of the Chicago Climate Exchange.

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