A large explosion on one of Mexico’s Natural Gas pipelines caused Natural Gas to rise 8%. This had a bad correlating affect on electricity prices as many providers had to pull prices that were created on previous gas prices. Electric Rates today remain steady and we hope to see the Natural Gas scare go away and electric prices continue to plummet.
Here in Texas one would not think that Mexico’s Natural Gas crisis would get us here but this is how the Natural Gas markets operate. They are highly volatile and any fluctuation in storage can have a huge affect throughout the country and surrounding Gulf of Mexico.