That’s good news for the Louisiana’s chemical plants and their competitive advantage and for residents’ lower electric and natural gas bills. The price even opens the door to exporting liquefied natural gas from Louisiana.
Economist Loren Scott told The Advocate that a key factor in electricity bills is the fuel adjustment charge, which fluctuates depending on natural gas and other fuel prices:
In 2008, the cost for 1,000 kilowatt hours of electricity — a typical customer’s monthly usage — was $110 to $120, said Bill Mohl, president and chief executive officer of Entergy Gulf States Louisiana LLC.
The bill for the same amount of electricity today is $80 to $90 — with the natural gas prices having fallen closer to $4 per thousand cubic feet.
The latest report of Haynesville’s success comes on the heels of an article outlining a lack of severance tax revenue hitting the state’s coffers from the shale. The Advocate reported Feb. 5 that Haynesville wells are exempted from severance taxes for up to two years, and production at the site is expected to plummet long before companies will begin paying severance taxes. Figures from the state’s Legislative Fiscal Office caused an outcry from oil and gas industry leaders, who countered that the tax exemption was a major component of the influx of companies drilling.
Read the full natural gas production report here.
Read more on the Haynesville Shale and the severance tax exemption here and a response from a Lafayette oil and gas manager.
Jefferson Street restaurant and pub debuts during Festival with limited menu.
State bar foundation bestows honor on founder and managing partner of NeunerPate
National awards recognize outstanding achievement in leadership development and leadership programs
A federal court magistrate has issued a seven-page schedule of hearings, conferences and deadlines leading up to January’s trial aimed at determining how much money BP will owe in Clean Water Act fines as a result of its 2010 Gulf of Mexico oil spill.
The state’s “greedy trial lawyers” haven’t scared this oil giant away.
Smaller Microsoft Store installations sell a wide array of Microsoft products (Windows phones, Surface tablets and Xbox consoles) but don’t include everything.
See cutting-edge technologies Thursday in brief presentations/demonstrations from 3rd Dimension Media, C&C Technologies, Cimation and UL Lafayette School of Engineering.
C & C Technologies, HIT Fitness, R3 Sciences, the Acadiana Symphony Association and the United Way of Acadiana recognized for innovation.
Under the deal, Teche shareholders would get 1.162 shares of IberiaBank for each share of Teche stock.
Dave Perkins, LCG Comp Plan honored along with local architects and designers at the 2014 INDesign Awards
Greg Manuel’s Lafayette-based residential development company is taking advantage of exponential industrial growth in Lake Charles.
Longtime Lafayette retailer ventures online.
The annual juried competition recognizes excellence in architecture, interior design and historic preservation in Lafayette and the five surrounding parishes.
It’s not how aggressive or conservative you are — it’s planning for risk that matters most.
Cypress Bayou GM hosts open house.
Thanks to cutting-edge digital technology, more and more consumers are banking on ATMs and mobile phones.
Regional bank bids farewell to Downtown May 30
ABiz takes a look back at the most noteworthy moments for the local banking industry over the last year.
Most experts say short-term interest rates will be unchanged through 2014, but long-term rates are inching up.
New hires, promotions, transfers in Acadiana business
The scion of a landmark Four Corners restaurant climbs back into Lafayette’s culinary scene as franchisee for a popular burger chain.
Largest recruitment event in Acadiana returns May 21 to the Cajundome Convention Center
A lawyer’s ad should only be a starting point, as there is much more to consider when seeking quality representation.
Thanks to the inaugural 2012 INNOV8, a design for lifting heavy objects was brought to market.
His company bankrupt and being liquidated, the Lafayette businessman’s financial troubles are mounting.