Electricity Markets
Forward rates are down from last week, with a drop in NYSO and PJM markets, as the underlying cost of gas dropped over the report week.
Daily pricing remains volatile as temperatures spiked across the country.
Natural Gas Markets
NYMEX 2021 futures are no longer above 2014 highs in the near term as this week’s storage injection narrowed the gap between current and historic storage levels.
.
Futures as of 8/18/2021 versus previous week:
|
Sep-21 |
$3.852 |
$(0.207) |
|
Oct-21 |
$3.866 |
$(0.205) |
|
Nov-21 |
$3.939 |
$(0.204) |
|
Dec-21 |
$4.057 |
$(0.199) |
|
Jan-22 |
$4.120 |
$(0.199) |
|
Feb-22 |
$4.045 |
$(0.192) |
Natural Gas Inventory
As of Friday, August 13, 2021 working gas in storage was 2,822 Bcf. According to EIA estimates this represents a net increase of 46 Bcf from the previous week.
The Baker Hughes exploration gas count is down from the previous week for a total of 97 rigs. This is 28 more rigs than the 69 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: HENRI
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 activists target National Grid gas project after Williams shelves pipeline
New York — Emboldened by the recent cancellation of a fiercely disputed natural gas pipeline project, climate activists are now looking to defeat National Grid USA’s top alternative for addressing a downstate New York supply crunch.
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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 s