March 2024 Muni Minute

Inside this Edition

Howard Plante
Vice President of Procurement

New England Futures Electricity Prices Summary

In the ever-changing landscape of electricity prices, recent trends have shown some significant shifts. At the end of December 2023, the 2024 calendar year electricity price dropped to just under 5 cents per kWh, hitting a 24-month low of 4.99 cents. This marks a considerable decrease from the 2022 price of 8.85 cents per kWh for the same period. Additionally, the 2025 and 2026 prices also fell by the end of the year to 20-month lows. These price drops are attributed to declining natural gas prices, driven by mild weather and favorable natural gas storage reports. To delve deeper into these trends and understand the key influences shaping electricity prices in New England, read the full article here.

Table 1 – 2024 – 2025 – 2026

Sean Devine
Director of Natural Gas Sales

Unraveling the Complexities of the Natural Gas Market in Winter 2023/2024

Unraveling the Complexities of the Natural Gas Market in Winter 2023/2024: In this article, Sean Devine, Director of Natural Gas Sales, delves into the dynamic shifts of the natural gas market during the winter of 2023/2024. He explores various factors such as El Niño, geopolitical tensions, and production changes, providing an insightful overview of the events leading up to this period and their implications on future market trends. To read the full article, click here.

Thomas Carter
Regional Sales Director

Group Purchasing in Energy: Will it work for your business?

Buying in bulk often means lower prices, but when it comes to energy purchasing, things can get complicated. In a recent case study, my client, a portfolio owner of fitness centers, explored group purchasing options after seeing considerable savings in other consumables. However, when it came to energy, the best terms were unexpectedly higher than individual pricing. Why? Energy rates are complex, with one crucial component being your facility’s capacity tag, which determines whether you benefit or lose out in a group purchase. Understanding these nuances is key to making group purchasing work for your business. Read the full article here to learn more about how to navigate the complexities of group purchasing in energy.

Carol Anne Watts
Vice President of Sales

How do you measure success when buying your next energy contract?

Success is a nuanced concept, especially when it comes to energy purchasing. Clearly established goals are essential to ensure that all stakeholders, from bosses to shareholders, are on the same page when measuring success. This proactive approach helps in combining initiatives, avoiding conflicts, and streamlining the execution of agreements. When planning your next electric or natural gas purchase, consider factors like sustainability goals, contract language, savings metrics, and product structure. Communicating these goals early and consistently with your energy advisor is crucial for a successful outcome. Learn more about how to measure success in energy purchasing by reading the full article here.

Dayna Wilkins
Accounts Payable Manager

Freedom Energy’s Administrative Role in Group Net Metering

Group Net Metering (GNM) is a program that allows consumers to benefit from renewable energy sources, even if they’re not on their property. Established in 2013 by New Hampshire Senate Bill 98, GNM enables renewable energy facilities (Hosts) to partner with electric utility account holders (Members). Hosts receive the utility supply rate for their generation, while Members are compensated for enrolling their accounts. Freedom Energy Logistics administers GNM programs, ensuring compliance and managing kilowatt allocation. GNM offers cost savings, reduces environmental impact, promotes energy independence, and supports local renewable energy projects. Learn more.

Sustainability Spotlight

In honor of World Recycling Day on March 19th, we celebrated our Operations Manager, Megan, for her recent Concerned Citizen Award! This award recognizes employees who lead in supporting sustainability initiatives and environmental causes. Megan’s efforts in organizing an e-waste recycling drive resulted in the collection of over 75 pounds of cords and cables, 2 TVs, 5 monitors, 20 hard drives, multiple phones, and more. Congratulations, Megan, for making a significant impact and leading by example!

To celebrate World Recycling Day year-round, consider organizing your own e-waste drive, reducing single-use plastic consumption, or supporting local recycling programs. Together, we can make a difference!

Share This Article!