Electricity Markets
Forward pricing saw a continued upward trend across most markets.
Above normal temperatures last week have shown little volatility across most electric markets.
Natural Gas Markets
Current NYMEX rates are in the center of the normal range. We did see a slight tick up this past week.
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Futures as of 4/14/2021 versus previous week:| May-21 | $2.618 | +$0.091 |
| Jun-21 | $2.693 | +$0.083 |
| Jul-21 | $2.775 | +$0.086 |
| Aug-21 | $2.803 | +$0.084 |
| Sep-21 | $2.790 | +$0.077 |
| Oct-21 | $2.809 | +$0.081 |
Natural Gas Inventory
As of Friday, April 9, 2021 working gas in storage was 1,845 Bcf. According to EIA estimates this represents a net increase of 61 Bcf from the previous week. We are now above the 5-year average range but still behind last year’s numbers.
The Baker Hughes exploration gas count was up 1 from the previous week for a total of 94 rigs. This is 1 fewer rigs than the 96 in operation at this time one year ago.
Weather Update
Colder than normal temperatures across most of the South, Mid-West and North East while the West coast is warmer than normal.