Jan 16, 2004

Cold Weather Adds Problems for Gas Supplies

With the extreme dip in temperatures within the last week, people in the Northeast have forced some natural gas companies to put a hold on deliveries to a number of businesses for a second time in a week to make sure there is enough gas to heat homes, according to Reuters.

Temperatures have dropped down to negative numbers for a number of days, which is causing problems with utility companies causing them to give very short notice to businesses all over the Northeast during peak times in their businesses. At this point, growers are getting ready for spring when the heat is needed the most, and they are in danger of not getting the gas they need to grow.

The week started out with higher temperatures, but Mother Nature has different plans for the rest of it.

Also according to Reuters, Consolidated Edison Inc., a gas distributor based out of New York who had to cut interruptible customers last week, said it would ask them to switch again to back-up fuels at 10 a.m. Public Service Electric and Gas Co. was also forced to make cuts.

Due to the shortages, gas prices have almost doubled in New York City within the last week. There have also been record amount of gas burned in the New York City area by approximately 50 percent, according to Reuters.

Gas companies all over the Northeast are scrambling to figure out where and which companies to put on hold or to shut off until the pending cold weather climbs back up with in the coming days and weeks. Stay tuned to GPN Weekly for the latest information on the current energy crisis.