The EU’s energy crisis is looming large for businesses across the globe, including here in the US.
The EU is bracing for a prolonged energy crisis, exacerbated by Putin’s squeeze on the gas supply and the fact that domestic natural gas reserves are already in depletion. This shortage will spread across the globe as the EU and US enter the winter months and look for natural gas to heat businesses and homes.
Currently, US natural gas prices are at the highest they have been in the last 14 years.
According to Axios.com “U.S. natural gas prices briefly hurdled $10 per million British thermal units (BTUs) on Tuesday, the highest since 2008. They are up more than 150% this year.”
The EU energy crisis coupled with extreme inflation will cause US energy bills to skyrocket. Property managers and building owners will be pining for a drop in natural gas prices as the winter arrives and prices remain at this level.
The upcoming months will remain unpredictable, especially as we add in election season. We are only just beginning to see the impact of the EU’s energy crisis, projected to continue into 2025. As we await a solution to decrease energy prices, US businesses will be impacted across the board.
The need to take action to preserve your bottom line is now.
Does your business have a solid plan in place to combat rising energy costs?
Experts recommend that business owners create an energy plan that can withstand the impact of this quickly evolving crisis. Vantage Energy, an affiliate of Vantage Etc., can reduce your energy bills, lock in special rates, and keep your bottom line intact before the cold season arrives. Contact one of our top commercial energy experts at (914) 207-6361, or email Nick Capano, email@example.com to get started.