Warm Winter Season Leads to Gas Surplus

If you're in the Philadelphia area you're probably well-aware that the 2012-2013 winter season has been warmer than expected. The region between Minneapolis and Boston, which is the area in the country that uses the most heating resources, has seen temperatures that hovered well above average since the beginning of December. As a result, there's been an overabundance of natural gas, creating a trend of excess that is likely to last well through March.

 

Consequently, Philadelphia heating gas prices have dropped some thirteen percent since mid-November when it last peaked. While it's obviously something most homeowners are benefitting from – both the decreased prices of natural gas, and the lessened need to pump the heat – it could have a detrimental economic effect on the regions heating and cooling industry. Though we're a little more than halfway through the bulk of the heating season, heating companies are crossing their fingers that we get a few more cold stints.

However, it doesn't look like it's in the cards. The third week in January – which is typically the coldest in the year – was just a bit colder than last winter, which was the fourth-warmest on record. In spite of the few spikes of low temperatures, the warm periods have been too warm and too lengthy for the chill to prevail. It's anticipated that there might be a few more cold weeks upcoming like the one Philly experienced during the storm Nemo, but unfortunately, they may not be cold enough to overcome the impact the unseasonable warmth has already had.