Heatwaves Sends More Than Just Temperatures Soaring
US temperatures soar due to heatwave and so do energy rates as 84% of America resorts to air conditioning to
US temperatures soar due to heatwave and so do energy rates as 84% of America resorts to air conditioning to
270 million Americans will experience temperatures well above the 90s, and 150 million above the 100s, as heat waves drives summer heat to records highs in many areas.
In some states, such as California, local utilities issued warnings to conserve on energy as power demand strains the electrical grid causing unexpected power outages and rolling blackouts.
While American’s resort to their air conditioners to stay cool, the heatwave sent more than just temperatures soaring this week.
A sudden surge in demand for energy to cool homes has also significantly increased the overall US energy demand, causing a historically low natural gas market to shoot upwards to well over $2.00. Natural gas being the main source for US electricity generation.
For any residence or business in a deregulated state, locking in energy rates now could prevent them from getting higher as rates are predicted to continue increasing due to current market conditions.
Source: OilPrice.com
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