Most natural gas used by residents and businesses is bought under long-term contracts unaffected by sudden jumps in spot-market prices
By Tom Gilbert
Campaign director of ReThink Energy NJ and the New Jersey Conservation Foundation.
Tom Gilbert
As New Jerseyans shivered through the recent cold spell, PennEast tried to use our discomfort with the wintry weather outside as one more opportunity to make a bogus case for an expensive and dangerous pipeline that isn’t needed to meet the state’s energy demands — today or in the future.
It is a knee-jerk reaction to claim that more pipelines are needed because prices increase during periods of cold weather. The industry knows better, which explains why Ralph Izzo, CEO of PSEG, told investors in November, “You don’t want to build an interstate pipeline capability for a polar vortex. It’s unnecessary. It’s expensive. There’s no need to do that …”
The connection PennEast tries to make between a cold snap and its unneeded project just doesn’t exist. And here are the facts to prove that.
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