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The November wholesale supply contract was lower yesterday by $0.058 on the day along with the financial markets that seemed to continue the downward trend that started last week. The DJIA was lower once again by 258 points on the day on continuing concerns over the European situation. The DJIA has fallen over 500 points in the last two days alone and we’ll see if the “smartest guys in the room” can come up with an answer on the European questions. On the weather front, there was no change in the forecast that calls for the Mid-continent to be slightly above normal and the East coast to be normal. As we head into October, these temperatures definitely do not create any air conditioning demand and all you really need is a light blanket to keep warm at night. Therefore there is no need for the furnace to kick on yet. So it seems as we had indicated back in 2008, at the present time, all eyes are on the financial markets and futuristic demand is also embedded in what the financial markets are telling us right now. So natural gas prices will become trend followers with the financial markets absent some major fundamental event. So if the financial markets are trending lower, then the natural gas markets will do as well.
It seems across the pond, our British blokes are having a hard time becoming green according to a recent Ernst & Young survey that found that only 12% of UK business leaders polled said they had invested in costly energy saving measures, while uptake in the domestic sector is also low. Large incentives are required to bring about change, and hopefully the Green Deal will come to the rescue in 2012. The EU 20-20-20 legislation aims for a 20% reduction in energy consumption from 1990 levels by 2020, but at current rates, this will be difficult to achieve. A survey by Ernst & Young has highlighted how only 12% of business leaders polled had invested in costly energy saving measures despite the expectation of higher energy bills. The main reasons why uptake was not higher were the high capital costs and lengthy payback periods, with the latter being of particular significance in these turbulent economic times. However, help will soon be at hand with the Green Deal to be launched in late 2012. The Green Deal will allow households and businesses to invest in energy saving measures for no upfront cost, and to repay the loan later via their energy bills. Furthermore, as not all of the savings will go on repayments, there will be a net benefit for the user overall.
As we had promised, E Source announced the winners of its 2011 Utility Ad Awards Contest at the 24th Annual E Source Forum in Denver, Colorado. Top honors went to Georgia Power and Tennessee Valley Authority for first and second place, respectively, in the category of Best Overall Campaign. The contest was open to U.S. and Canadian electric and gas utilities and was judged by an independent group of judges that selected the winners based on ad effectiveness, objectives, message, memorability, and creativity. “We received a record number of entries this year. It’s great to see that utilities are using humor and creativity to get their messages across,” says Aleana Reeves, product manager of E Source Mass-Market Services. “Many of our winners also experienced increases in brand awareness, website traffic, and program participation.” 2011 E Source Utility Ad Awards Contest Winners were the following: Best overall Campaign, Georgia Power, Best Television Ad, Pacific Gas and Electric, Best Radio Ad, Peco, Best Print Ad, Public Service Company of Oklahoma, Best Outdoor Ad, Comed, and Best Business Ad was Mass Save.
Yesterday, U.S. Energy Secretary Steven Chu announced the winners of the U.S. Department of Energy Solar Decathlon 2011 at the National Mall's West Potomac Park in Washington, D.C. The University of Maryland won top honors overall by designing, building, and operating the most cost effective, energy efficient and attractive solar powered house. Purdue University took second place followed by New Zealand (Victoria University of Wellington) in third place. "This competition to build innovative, highly energy-efficient homes has been two years in the making, and all of these teams must be commended for their hard work," said Energy Secretary Steven Chu. "The houses on display blend affordability, consumer appeal, and design excellence with optimal energy production and maximum efficiency. These talented students demonstrated to consumers the wide range of energy-saving solutions that are available today to save them money on their energy bills." All teams competed in 10 contests during 10 days that gauged each house's performance, livability and affordability. The teams performed everyday tasks, including cooking, laundry, and washing dishes that tested the energy efficiency of their houses.
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