Electricity Markets
Forward electric pricing continues its decline across all ISOs as the underlying cost of gas dropped substantially over the last two report weeks.
![](https://www.powermgt.com/wp-content/uploads/2021/12/Temp-vs-Weather.png)
Volatility was observed in the daily markets as temperatures dropped well below normal over the previous week.
Natural Gas Markets
![](https://www.powermgt.com/wp-content/uploads/2021/12/NG-YOY.png)
December 2021 closed at $5.447. Forwards all through 2022 dropped substantially week over week as temperatures remained unseasonably warm and resulted in low demand.
Futures as of 12/1/2021 versus previous week:Jan-22 | $4.255 | -$0.717 |
Feb-22 | $4.196 | -$0.681 |
Mar-22 | $4.040 | -$0.596 |
Apr-22 | $3.820 | -$0.179 |
May-22 | $3.796 | -$0.138 |
Jun-22 | $3.834 | -$0.128 |
Natural Gas Inventory
![](https://www.powermgt.com/wp-content/uploads/2021/12/Storage.png)
As of Friday, November 26, 2021 working gas in storage was 3,564 Bcf. According to EIA estimates this represents a net decrease of 59 Bcf from the previous week.
The Baker Hughes exploration gas count remained the same from the previous week for a total of 102 rigs. This is 27 more rigs than the 75 in operation at this time one year ago.
Weather Update
![](https://www.powermgt.com/wp-content/uploads/2021/12/Weather-Chart.png)
Warmer than normal temperatures are expected across much of the contiguous US with a small strip of near or below normal temperatures expected over the West Coast.