The energy market is constantly changing, and it can be tough to keep up with all the latest news. That's why we've put together a quick summary of some of the most important updates for you this month.

At the time of this writing, energy markets have continued to present tremendous volatility, with significant single day swings. At PRI we think that we are a few months away from any real normalization. There is still some irrationality around the high futures prices. That being said, the situation in Ukraine is a big driver right now. The gas pipelines from Russia to Germany and Europe, all run through this country. Weather is neutral, general warming trends are expected. Storage is below last year’s levels and the five year average, but not dangerously low. Winter withdrawals from underground storage have been within reason and in line with projections. Nearly all deregulated regional power forward averages continue to show elevated curves. Here in Illinois the House Bill that contained a significant Renewable Energy Adjustment was passed, and effective this month will be applied to the ComEd utility charges. There is a likelihood that if the “Build Back Better” Bill is ever passed in Washington, this REA charge will be reversed.

Michael Beadle, PRI Head of Operations Michael Beadle has joined PRI as our new Head of Operations. He comes to us with over 30 years of experience in various segments of the energy industry, and we're excited to see what he can bring to the table. Please join us in welcoming him to PRI!

Energy conservation is critical for multi-family properties and other commercial real estate buildings. The energy market is constantly changing, and it can be challenging to keep up with the latest trends. The tips below will help you stay updated on some of the energy conservation measures we recommend for our clients.

• Implement energy conservation measures such as LED lighting, programmable thermostats, and high-efficiency appliances.
• Monitor energy usage with sub metering and interval data logging.
• Take advantage of energy procurement strategies such as hedging and contracting.
• Collaborate with energy consultants (like us) to ensure that you get the best energy prices possible.

In October 2013, Loyola University of Chicago (LUC) retained Prospect Resources to manage its energy procurement. PRI was able to help the University save thousands on their energy bills. Read the full case study here.   

• The first person to use electrical energy was Italian scientist Alessandro Volta who invented what's known as "the battery" in 1799.
• Natural gas is colorless and odorless, which is why it's often mixed with a sulfur smell to help people identify a gas leak.
• The sun produces more energy in one hour than we use on Earth during an entire year! It's estimated that the amount of solar power striking our planet is about 5000 times greater than what's required to meet global demand for electricity and transportation.  

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