Electricity Markets
Forward electric prices continue to climb as the underlying cost of gas, coupled with rising temperatures, drive rates higher across the country.
Spiking temperatures led to volatility in the daily markets.
Natural Gas Markets
NYMEX rates remain elevated for the remainder of 2021 but did not see additional increase week over week.
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Futures as of 8/11/2021 versus previous week:
| Sep-21 | $4.059 | ($0.099) |
| Oct-21 | $4.071 | ($0.092) |
| Nov-21 | $4.143 | ($0.078) |
| Dec-21 | $4.256 | ($0.064) |
| Jan-22 | $4.319 | ($0.067) |
| Feb-22 | $4.237 | ($0.061) |
Natural Gas Inventory
As of Friday, August 6, 2021 working gas in storage was 2,776 Bcf. According to EIA estimates this represents a net increase of 49 Bcf from the previous week.
The Baker Hughes exploration gas count is the same from the previous week for a total of 102 rigs. This is 32 more rigs than the 70 in operation at this time one year ago.
Weather Update
Most of the CONUS will warmer than normal temperatures in the coming week.
National Weather Service Updates (NOAA)
Hurricane Watch: Storm Fred
Click here to view the National Hurricane Center site.
Equatorial Pacific Outlook:
Click here to view La Nina and El Nino status.
Energy News
First major US hydrogen-burning power plant nears completion in Ohio Touted as a first-of-its-kind power plant in the United States , the Long Ridge Energy Generation Project, a 485-MW facility being equipped to run on amix of natural gas and carbon-free hydrogen , is nearing completion at the site of a former aluminum smelter on the banks of the Ohio River.
Building gas ban debate reaches Capitol Hill amid infrastructure, spending push A national debate over building electrification that kicked off in Berkeley, Calif., is bubbling up to Capitol Hill as Democrats seek to advance President Joe Biden’s agenda to tackle climate change.
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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.