Catherine (Katherine) Blunt

speaker
106 appearances 2 recordings 1 series first heard Aug 2022 last heard Sep 2022

Catherine (Katherine) Blunt’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Power Bills Expected to Continue Climbing This Winter · 21 Sep 2022 podcast
customers should expect to see at least some increase in the amount they're paying for electricity as well as natural gas this winter.
Thank you for having me.
Yeah, so the primary challenge is that natural gas prices have risen very significantly in the last year.
This is largely as a result of a few different things, but most significantly, perhaps, the situation in Europe.
Europe has been working very hard to reduce its reliance on Russian supplies, and we have been exporting more gas abroad as a result.
We've also seen a run-up in the cost of fuels used to produce electricity other than natural gas, including oil and coal.
And so really it's a problem with fuel costs across the board.
Yeah, so supplies haven't been as abundant lately.
Shale producers went through a pretty tough period in which they weren't producing the sorts of returns that Wall Street wanted to see.
So they scaled back on that production.
And now, even as demand has ramped up so significantly, many of them have had a problem responding as quickly as needed to shore up some of the supplies.
And at the same time, as I mentioned, we are sending more gas abroad to help alleviate the situation further.
in Europe.
So that's creating a pretty tight market here for natural gas.
Yeah, so to some extent these challenges are being felt everywhere, but not to the same degree.
In New England, things are particularly acute.
The region is heavily reliant on natural gas to produce electricity.
It has limited pipeline capacity to import that fuel from other states where it's produced.
And for that reason, it's reliant on actual imports of liquefied natural gas in the same way that Europe is reliant on imports of liquefied natural gas right now.
So there's competition for that resource and there's uncertainty as to how much is going to be available.
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