Yet a recently released Fitch Ratings report reflects the fact that even higher energy taxes — at a time when the industry is facing incredible headwinds — threaten these benefits. The credit agency explains that persistently low commodity prices coupled with pipeline constraints is “inhibiting production growth in the Marcellus Shale region.”
That said, there is clear, overwhelming support for American energy. In fact, according to a new Harris poll, 85% of U.S. voters agree that increased access to oil and natural gas could strengthen America’s energy security. And expanding and modernizing Pennsylvania’s natural gas pipeline network will ensure even more consumers, families, small businesses as well as schools and hospitals can realize energy cost savings.
- Marcellus Provides “Stable Energy Prices to Heat Homes, Businesses”: The energy revolution in our state has created a sustainable boom in energy production – the Marcellus Shale is now the second leading producer of natural gas in the world and is a national leader. … What’s most extraordinary about this economic boom is that the benefits can be felt throughout the state. Everyone from laborers in Pittsburgh to manufacturers in Phila., to farmers and small businesses in Harrisburg are all reaping the direct and indirect benefits of increased access to affordable, reliable energy. Even those across the state that live outside the shale region are enjoying lower, stable energy prices to help heat their homes and businesses. … These micro-economic benefits are welcome and substantial, and they are in addition to long-term opportunities to secure Pa.’s energy future. … Our state can once again become a regional energy hub given the right investments. (Patriot-News column, 11/3/15)
- “Winter’s Heating Costs May Warm Your Hearts”: Heating fuel prices have fallen. … “Heating costs are going to be much lower this year … There is a very abundant supply of electricity. Natural gas drives the price of electricity, and natural gas prices have remained low. … We don’t anticipate any significant changes in the cost of electricity for this winter.” (Evening Sun, 11/1/15)
- Thanks to Shale, Electricity Costs Down 17%: Residential customers who purchase power directly from PPL Electric Utilities will see a 17% decrease in December. The generation rate for residential customers will be reset to 7.878 cents per kilowatt hour, down from the current rate of 9.493 cents. Small business customers will see their rate drop to 7.731 cents, down from the current 8.982 cents, a 14% savings. … The price decline is a result of lower wholesale power prices driven by demand and the falling cost of fuels such as natural gas that are used to generate power. (Morning Call, 11/2/15)
- Power Prices to Drop in December: Consumers in PPL Electric Utilities territory will pay the lowest price in more than two years, beginning Dec. 1. These consumer will pay 17% less — 7.878 cents per kilowatt hour, down from the current 9.493 cents per kwh. The new price is the cheapest since March 2013. … Wholesale prices are down because the price of natural gas — the fuel used by some power plants to generate electricity — is down. (Lancaster Online, 11/3/15)
- Job-Creating Natural Gas Delivering “More Affordable Heating Bills”: I am proud to work in an industry where workplace safety rises – each and every day – above all else. I’m also very proud of the positive contributions – economically and environmentally – that our industry is making for all of Pa., our nation and the world. It’s because of the work that we’re doing right here in the commonwealth that we’re all experiencing more affordable heating bills, our manufacturers are returning to the state, and America’s stronger abroad and less dependent on unstable regimes who hate us to meet our energy needs. (Patriot-News letter, 10/30/15)