On Monday, Shares of Kinder Morgan, Inc. (NYSE:KMI), gained 1.13% to $39.36.
Tennessee Gas Pipeline (TGP), a Kinder Morgan company, presented a filing with the Massachusetts Department of Public Utilities (DPU) supporting the DPU’s examination into the means by which new natural gas supply capacity may be added to the New England market, counting providing a regulatory mechanism for Massachusetts electric distribution companies (EDCs) to contract for additional natural gas pipeline capacity to assist reduce natural gas and electricity prices in Massachusetts.
In its June 15 DPU filing, TGP noted that Massachusetts and New England are compriseently experiencing the highest natural gas and electricity prices in the continental United States, which can be significantly reduced through contracting for and building additional natural gas pipeline capacity to service the region. “The existing shortage of pipeline capacity to serve the demand from the electric generation sector, particularly during the winter, leads to significantly higher regional natural gas prices and, in turn, higher regional electricity prices,” said Kimberly S. Watson, President, Kinder Morgan East Region Natural Gas Pipelines. Over the past two winters, New England’s electricity plants have had to rely on needlessly high-priced natural gas, expensive imported LNG and costly fuel oil purchased on the spot market to meet demand due to insufficient natural gas pipeline capacity serving the region. According to the independent electric grid operator ISO New England, this resulted in New Englanders paying over $7 billion more for electricity during the winters of 2013/14 and 2014/15 than what they paid for electricity during the winter of 2011/12. ISO New England has also noted that although total use of electricity in New England dropped 2 percent in 2014 contrast to 2013, the average price of wholesale electricity rose 13 percent in 2014, with the enhance largely due to the enhance in the cost of power plant fuel, particularly natural gas. “There is no doubt that the increasing cost of natural gas and electricity caused by the lack of adequate natural gas pipeline capacity makes it more costly for New England’s businesses to compete with businesses operating in nearby lower energy cost regions, and is particularly painful for New England’s working families, retirees and others living on fixed incomes,” said Ms. Watson. Ms. Watson added, “The ability to bring additional low-cost, domestic, abundant and environmentally cleaner natural gas to Massachusetts and New England will lower and stabilize energy costs for gas and electric customers and assist stimulate economic growth, providing the opportunity for the Commonwealth of Massachusetts to benefit similarly to other regions of the United States, where low-cost natural gas is transforming their economies by creating new jobs and cost savings for families, businesses and public institutions.”
According to the TGP filing, increasing the natural gas supply capacity to New England will also have additional important benefits to Massachusetts and New England, such as: further reducing regional emissions of CO2, NOX, and SO2 by replacing higher emitting coal and oil-fired electricity generation with new, cleaner natural gas-fired electricity generation, supporting growth of renewable generation technologies such as solar and wind by ensuring uninterrupted energy supply on cloudy or windless days, and providing the opportunity for additional residences and businesses to convert from oil and other fuels for heating and manufacturing to less expensive and cleaner natural gas, particularly in western Massachusetts and other areas which are presently dealing with moratoriums on new connections due to limited natural gas supply.
Kinder Morgan, Inc. operates as an energy infrastructure and energy company in North America. The company operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, Kinder Morgan Canada, and Other segments.
Shares of AK Steel Holding Corporation (NYSE:AKS), declined -3.75% to $4.88, during its last trading session.
AK Steel Holding Corporation, said that it will enhance current spot market base prices for all carbon flat-rolled steel products by a minimum of $20 per ton, effective right away with new orders.
AK Steel Holding Corporation, through its partner, AK Steel Corporation, produces flat-rolled carbon, stainless and electrical steel, and tubular products in the United States and internationally. It produces flat-rolled value-added carbon steels, counting coated, cold-rolled, and hot-rolled carbon steel products; and specialty stainless and electrical steels in sheet and strip forms.
Finally, CMS Energy Corp. (NYSE:CMS), ended its last trade with -1.11% loss, and closed at $31.93.
CMS Energy Corporation, is reminding Michigan residents that, even as temperatures climb, there are many ways to reduce energy bills and still stay cool this summer.
“People should know they can take simple steps to manage their energy usage and reduce their costs,” said Garrick Rochow, Consumers Energy’s vice president and chief customer officer. “We also offer rebates and assistful tools designed to make it easy and affordable to spend less and still keep their home or business cool.”
Rochow offered seven energy-saving tips for the summer.
- If you have central air conditioning, clean leaves and debris from the unit. Make sure they’re not too close to the compressor because they can block airflow. Clean the filter regularly. Dusty filters make your air conditioner work harder.
- Set your air conditioning thermostat at 78 degrees when you’re home and higher when you’re away. Install an automatic setback or programmable thermostat that starts your air conditioner shortly before you get home. Consumers Energy offers a $50 rebate on Wi-Fi enabled thermostats.
- Don’t cool rooms that are not used much. Close doors to cut energy costs.
- Make sure to seal and insulate your home. That can be just as important for keeping cool in in the summer as to stay warm in the winter. Information about rebates for insulation and windows is accessible at www.ConsumersEnergy.com/myhome or by calling 866-234-0445.
- Operate your stove, oven, dishwasher and clothes dryer in the morning or evening when it’s cooler outside. They add extra heat to your home and make your air conditioner work harder.
- Be a fan of fans. A ceiling fan cools fast and costs less than air conditioning. You can also reduce the need for air conditioning by installing an attic fan.
- Replace or tune up your old air conditioning equipment and receive rebates ranging from $50 to $450. Go to www.ConsumersEnergy.com/myhome or call 866-234-0445 to choose a participating contractor, who will install equipment, perform tune-ups and submit the rebate application for you.
CMS Energy Corporation operates as an energy company primarily in Michigan, the United States. The company’s Electric Utility segment engages in the generation, purchase, distribution, and sale of electricity to residential, commercial, and various industrial customers in Michigans Lower Peninsula.
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