Still Time for Texas Businesses to Shop for Cheap Electricity, But Window May be Closing
Texas businesses still have a good opportunity to lock-in a cheap electric rate thanks to falling natural gas and oil prices, but businesses should not wait too long because OPEC is accelerating the date for an emergency meeting where the cartel is expected to cut production in hopes of raising prices, while gas producers are announcing plans to scale back drilling due to lower natural gas prices. That means the window on lower energy prices may be closing, and Texas businesses should shop around for a cheap fixed electric rate now, before rates start rising again. Natural gas, the driver of Texas electric rates , has fallen about 50% since summer spikes saw $13/MMBtu, and trading last week saw prices hit the $6.40 mark. However, lower prices mean producers are starting to shut-in production wells because the price cannot cover extraction. The Federal Energy Regulatory Commission
SaveOnEnergy.com secures $2.4 Million in funding
SaveOnEnergy.com SECURES $2.4 MILLION IN FUNDING Growth Capital Expected to Accelerate Expansion to New York and Illinois DALLAS — March 17, 2008 – Dallas-based SaveOnEnergy.com ( www.SaveOnEnergy.com ) announced today it has secured $2.4 million in funding led by a group of oil and gas executives based in San Antonio, Texas and El Paso, Texas. The new investors will acquire a minority stake in the parent company Save On Energy, LTD. The company plans to use the additional capital for an increased marketing and advertising campaign in Texas, as well as expansion into New York and Illinois. SaveOnEnergy.com expects to close on the transaction by the end of this month. More details will follow in a separate press release said a company spokesman. “There have been a variety of opportunities in the past for us to secure funding, but we felt the timing was finally right to take the company
