May 24, 2018
Connecticut lawmakers have recently passed a new energy bill as part of efforts to reduce greenhouse gas emissions.
Senate Bill 9, “An Act Concerning Connecticut’s Energy Future,” passed both the House and the Senate in landslide victories. Governor Dannel Malloy signed the bill into law today. The bill officially implements the 2018 Comprehensive Energy Strategy (CES) that was finalized earlier this year.
The main pieces of the legislation that could directly impact the price of energy for end-users is the increase in the Renewable Portfolio Standard (RPS) from the original 20% by 2020 to 40% by 2030. This increases the total amount of renewable energy being used in Connecticut, which can sometimes cost more than traditional energy sources. The year-by-year increases are outlined below.
While the exact costs of these changes are not yet known, it is important to be aware of them in the coming years. Stanwich Energy Advisors will continue to monitor these changes and will update when more information is available.
You can read the full Senate Bill 9 from the ct.gov here.
Connecticut Passes Legislation Overhauling Energy Policy
May 24, 2018 Connecticut lawmakers have recently passed a new energy bill as part of efforts to reduce greenhouse gas emissions. Senate Bill 9, “An Act Concerning Connecticut’s Energy Future,”.
April 13, 2018
New Jersey and Illinois have each adopted legislation to increase their renewable energy targets.
New Jersey now aims to have the state use 35% renewable energy by 2025 and 50% by 2030. This new legislation aligns the state with the targets of New York and California; the leaders in the renewable energy space.
In addition, the New Jersey bill adds a $300M subsidy for the state’s existing nuclear power plants. This subsidy will be passed through to end-users at a rate of $.004/kWh starting in 180 days.
Illinois has also made recent progress on its renewable energy goals. The state approved a roadmap to hit their targets of 25% renewable energy by 2025. Specifically, the plan outlines procurement for distributed solar energy and also ways to offer solar energy to low-income areas. For now, it is unclear if this will affect end-users’ bottom lines.
New Jersey and Illinois Progress Toward Renewable Energy Goals
April 13, 2018 New Jersey and Illinois have each adopted legislation to increase their renewable energy targets. New Jersey now aims to have the state use 35% renewable energy by.
April 3, 2018
New York State has officially adopted its FY 2019 budget, and the final version comes with a pleasant surprise for property managers and building owners. The final budget maintains a popular tax exemption for properties that utilize third party energy supply companies (ESCOs). With the tax exemption, customers in New York who receive electricity and gas from an ESCO pay 4.5% on the delivery portion of their energy bill, as opposed to the full 8.875%. Preliminary drafts of Governor Cuomo’s bill terminated this tax exemption.
For more information on the New York State Budget, please visit their website at https://www.budget.ny.gov/.
New York City Renews Tax Credit for Customers Using Third Party Energy Suppliers
April 3, 2018 New York State has officially adopted its FY 2019 budget, and the final version comes with a pleasant surprise for property managers and building owners. The final.
March 2, 2018
Warren Buffett and other successful investors hold fast to a basic core belief when it comes to investing in equities:
Never try to time the market.
At Stanwich Energy Advisors, we agree with Mr. Buffett’s advice, but supplement it with our own respectful addition:
Always try to time the commodities market!
This distinction is an important one. Energy is a commodity, not an equity, and we have found that you actually want to time the commodity market, as it can fluctuate dramatically based on supply and demand.
According to the efficient market theory, an asset’s price fully reflects all available information. However, despite the increasing use of computers in all areas of investing, most decision making is still done by human beings, and is therefore subject to human error. Between these errors, seasonal weather patterns, and disruptive events like hurricanes and blizzards, the energy market has price dislocation that can be taken advantage of – If you know where to look. At Stanwich Energy, our business is predicated upon spotting these price anomalies.
Depending on your risk tolerance level, there are different strategies we can offer when purchasing energy in order to take advantage of the market. Keep in mind that the goal is not to buy at the absolute lowest price possible, but to secure favorable pricing within the context of all relevant data. Think of it as buying real estate at below replacement cost or buying real estate opportunistically knowing that your basis will protect your downside.
Essentially, we coach you to wait for a “pitch” that falls in your sweet spot. When it comes to energy procurement, nobody’s going to call you out on strikes. Our goal is to wait for a pitch down the middle of the plate. When you buy energy, Stanwich makes sure that you only lock in when all the information, all the data, computes in your favor.
Should You Time the Energy Markets?
March 2, 2018 Warren Buffett and other successful investors hold fast to a basic core belief when it comes to investing in equities: Never try to time the market. At.
February 8, 2018
A recent bidding process conducted by Xcel Energy has shocked the industry as clean energy bids including wind and solar with battery storage came in cheaper than bids from traditional fuel sources.
Seeking to replace two of their existing coal power plants with renewable energy sources, Xcel received over 430 individual bids. Comparatively, a similar bidding process in 2013 received 55 bids. This boom in growth, coupled with the low prices of the bids, highlights how quickly renewable energy has advanced in the last 4 years. For more in-depth information about the results of Xcel’s solicitation, please read this article from Vox.
Energy purchasing strategies involving renewable energy have been analyzed and implemented by Stanwich Energy when advising clients on their best option. The results from Xcel’s solicitation give further credence to Stanwich’s holistic approach to the energy markets. Sometimes it can pay to look at all available options instead of only the most common ones.
For more information on incorporating renewable energy into your portfolio, contact your Stanwich Energy representative.
Clean Energy Is Now Cheaper than Traditional Energy
February 8, 2018 A recent bidding process conducted by Xcel Energy has shocked the industry as clean energy bids including wind and solar with battery storage came in cheaper than.
January 3, 2018
New York Governor Andrew Cuomo has unveiled the newest version of his clean energy jobs and climate agenda. Highlights of the plan include:
–Increasing off-shore wind power production: The state plans to increase their wind power production through two solicitations in 2018 and 2019.
–Clean energy workforce development: NYSERDA will contribute $15M toward the training of workers in the clean energy field.
–Expanding the Regional Greenhouse Gas Initiative (RGGI): In 2013, 9 eastern states created RGGI with a goal to reduce power plant emissions by 50% by 2020. The initiative has been more successful than originally anticipated, so a new target has been added to reduce by an additional 30% by 2030.
–Energy transmission infrastructure investment: In an effort to more fully utilize solar and wind energy, the governor plans to create 1,500 MW of energy storage by 2025. This will allow the state to consume renewable energy at times when the sun is not shining and the wind is not blowing.
To read the agenda in full, please click here.
New York’s Governor Cuomo Unveils Newest Clean Energy Jobs and Climate Agenda
January 3, 2018 New York Governor Andrew Cuomo has unveiled the newest version of his clean energy jobs and climate agenda. Highlights of the plan include: –Increasing off-shore wind power.