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Maine Energy Prices, Already Costly, Expected to Rise as Trump Tariffs Take Effect
Tariffs that took effect Tuesday targeted all products from Canada and Mexico, hitting particularly hard in Maine, where residents depend more heavily on heating oil than in any other state.
On Thursday, January 16, 2025 Matthew Gamache, Competitive Energy Services’ Chief Operating Officer, was elected for a three-year term to the Board of Directors of the Environmental & Energy Technology Council of Maine (E2Tech), along with four other Portland area professionals.
When the time comes, our legislators in Augusta owe it to the Maine Climate Council to promptly and effectively act on the good and valuable work carried out by that new body this year.
Look in-depth about our work with the university in our case study.
The NEPOOL 12-month electricity strip was down 1.65% week-over-week to $68.70/MWh. The 2026, 2027 and 2028 calendar year strips all decreased in price week-over-week.
Brent closed at $72.16 per barrel last week, up 2.2% week-over-week. WTI rose 1.6% week-over-week to $68.28 per barrel. The U.S. issued new Iran-related sanctions last Thursday, targeting systems involved in the supply of Iranian oil to China, including an independent Chinese refiner.
The NYMEX prompt month fell by $0.30 week-over-week to $4.10/MMBtu, a 6.7% decrease. The rolling 12-month strip dropped $0.15 week-over-week to $4.68/MMBtu, a 3.2% fall. Warmer weather across the United States has decreased demand for natural gas in the residential and commercial sectors. The United States is approaching the end of the withdrawal season.
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