Electricity Markets
ISO-NE continues to see an increase in forward rates while all other markets were flat over last week.
Warmer temperatures were observed in comparison to last year which led to an overall quiet week in daily pricing.
Natural Gas Markets
Prompt month June 2021 NYMEX is trading just below $3.00 and now is in the upper range of normal pricing.
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Futures as of 5/5/2021 versus previous week:
| Jun-21 | $2.938 | -$0.007 |
| Jul-21 | $2.982 | -$0.015 |
| Aug-21 | $2.992 | -$0.017 |
| Sep-21 | $2.978 | -$0.015 |
| Oct-21 | $2.995 | -$0.010 |
| Nov-21 | $3.056 | -$0.011 |
Natural Gas Inventory
As of Friday, April 30, 2021 working gas in storage was 2,021 Bcf. According to EIA estimates this represents a net increase of 60 Bcf from the previous week. Storage level have, once again, fallen below the 5-year average.
The Baker Hughes exploration gas count is down 2 from the previous week for a total of 96 rigs. This is 11 more rigs than the 85 in operation at this time one year ago.
Weather Update
Temperatures are expected to be cooler than normal throughout the Eastern half of the country with warmer temperatures on the West coast.
National Weather Service Updates (NOAA)
Hurricane Watch: No Hurricanes Click here to view the National Hurricane Center site.
Equatorial Pacific Outlook:
Click here to view La Nina and El Nino status.
Energy News
New York’s Indian Point nuclear power plant closes after 59 years of operation The Indian Point Energy Center (Indian Point) permanently stopped generating electricity on April 30, 2021, when it retired its last operating nuclear reactor, Unit 3, earlier than originally planned.
New York advisory panel recommendations to include gas-fired plant moratorium New York’s Power Generation Advisory Panel will recommend a moratorium against new fossil fuel-fired plant construction to the state’s Climate Action Council, the panel’s chair said May 3.
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Disclaimer: This information is provided for the use of our customers and potential customers. Power Management Company assumes no responsibility or liability for the accuracy or completeness of pricing or information in this document. Historical data was obtained from sources that we believe to be reliable, but we do not guarantee its accuracy or completeness. It is not intended to provide advice or recommendation. Views are subject to change without notice.
Click here to view La Nina and El Nino status.
Energy News
New York’s Indian Point nuclear power plant closes after 59 years of operation The Indian Point Energy Center (Indian Point) permanently stopped generating electricity on April 30, 2021, when it retired its last operating nuclear reactor, Unit 3, earlier than originally planned.
New York advisory panel recommendations to include gas-fired plant moratorium New York’s Power Generation Advisory Panel will recommend a moratorium against new fossil fuel-fired plant construction to the state’s Climate Action Council, the panel’s chair said May 3.
If you would like to receive the Energy Market Update to your inbox weekly, please click here to submit your name and email address.
Disclaimer: This information is provided for the use of our customers and potential customers. Power Management Company assumes no responsibility or liability for the accuracy or completeness of pricing or information in this document. Historical data was obtained from sources that we believe to be reliable, but we do not guarantee its accuracy or completeness. It is not intended to provide advice or recommendation. Views are subject to change without notice.