GAIN Statement on FERC Report Predicting High Energy Costs this Winter

The Federal Energy Regulatory Commission released a new report today warning that U.S. consumers should prepare for higher prices this winter as rising demand for natural gas and lower-than-average inventories will drive up the costs. Energy bills in New England are expected to be particularly high due to the region’s heavy reliance on natural gas to heat homes and power the electrical grid and a lack of infrastructure to bring natural gas to the area. The U.S. Energy Information Administration forecasts that electricity costs in New England will increase 124 percent from 2021.

Below is a statement that can be attributed to me, Craig Stevens, spokesman for the GAIN Coalition:

“Our nation’s energy crisis is of our own doing, a result of short-sighted policies that ignore market realities and the needs of American businesses and families. As a resident of New Hampshire, I feel first hand the consequences of New York State’s decision to ban the construction of energy infrastructure – closing off Marcellus Shale to the Northeast. And President Biden’s refusal to limit energy development in the U.S. and slow walking LNG permits has immediate and long term consequences that hurt our economy, raise energy prices on American families, and make the U.S. – and the world – more reliant on foreign sources of energy. It’s frustrating that these challenges were so predictable, yet ignored by the Obama and now Biden Administrations. Hopefully necessity will be the mother of common sense at 1600 Pennsylvania Avenue, leading to more support for U.S. and North American energy development and infrastructure.”