Gas Volatility Threatens Grid Stability
A Fossil-Fuel-Powered Electrical Grid Remains Vulnerable To Supply Disruptions
As extreme summer heat begins to threaten electrical grids across the country, fossil fuel executives who are cashing in on record high prices would love to shift the blame to anyone but themselves. Let’s not forget that our continued dependence on fossil fuels is what is keeping our grid and our utility bills subject to volatile prices and unstable supplies.
- According to the Energy Information Agency, Henry Hub front-month prices for natural gas were up 53% from April, reaching $8.78/MBtu in May.
- Storage inventories for gas also remain below the five-year average while exports to Europe have surged to help replace Russian supplies.
- Burning fossil fuels only accelerates the extreme weather that strains demand for electricity and threatens the availability of fossil fuel supplies.
- Renewable energy sources are more stable and reliable than fossil fuels and a clean energy economy can save consumers money.