This week, the Michigan Agency for Energy issued their annual 2016 Summer Energy Appraisal, projecting prices and availability of energy in Michigan during the summer months. The agency is projecting dramatically lower gasoline prices and lower natural gas prices. Additionally, distillate fuel oil, used heavily in logistics, is almost 20% less expensive than last year. On the electricity front, barring any weather fluctuations, electric sales are projected to decrease by 0.9% from 2015 levels. Natural gas sales are expected to rise by 1.2%, with residential and commercial usage expected to decline, the industrial sector is projected to increase consumption. Gasoline and distillate fuel oil demand is estimated to slightly increase, due to a drop in prices for both products.
To view the full Sumer 2016 Energy Appraisal, please click here.
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