Ameren Illinois reports customers saved substantially during Winter Storm Fern when natural gas prices jumped as high as $70 per British thermal unit on the open market.
Through optimized storage field operations, leased storage, and strategic heating, Ameren officials say they were able to deliver natural gas purchased in the summer months at $3 to $4 per therm. The savings from market exposure January 23rd to February 2nd is estimated at $78.2 million.
January 23rd was the 14th highest natural gas usage day on record for Ameren Illinois customers.
Ameren’s Senior Director of Natural Gas Operations and Technical Services Brad Kloeppel says the performance of the gas system during the recent stretch of extreme cold is exactly why they commit valuable resources to maintain the storage fields. During the period from January 23rd through January 29th, the Ameren Illinois natural gas storage system operated at peak efficiency with no outages or performance issues, despite sustained subzero temperatures and heavy demand. Kloeppel says underground gas storage and price hedging are designed for moments like this.
