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At dawn on a December morning from where I live, I can see Maine’s failing energy policies drifting out into the frigid air....
Electricity costs in Maine are expected to reach record levels because of elevated natural gas prices, placing a strain on household budgets and the grid.
Mainers' power bills will go up again in 2026 after the Maine Public Utilities Commission approves new annual contracts to supply electricity to the state's investor-owned transmission and distribution utilities.
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The NYMEX prompt month shifted to March and fell $0.92/MMBtu week-over-week to $4.35/MMBtu. The rolling 12-month strip increased by $0.39/MMBtu week-over-week to $4.48/MMBtu. Storage levels saw a large net withdrawal of 242 Bcf for the week ending January 23rd.
Oil markets experienced gains this past week, with Brent closing at $64.00 per barrel, up 2.2% week-over-week. WTI experienced an increase of 2.2% week-over-week as well, climbing to $60.12 per barrel. Cold weather is driving up near-term demand and prices for heating oil.
The NEPOOL 12-month electricity strip fell 0.73% week-over-week to $65.94/MWh. The 2027, 2028, and 2029 calendar strips all experienced slight week-over-week increases.
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