Electricity Markets
All electric markets saw a continued climb up as the geopolitical tensions remain with Russia and the Ukraine.
A mix of temperatures brought on a lot of daily volatility, with large swings in both temperature and electric pricing.
Natural Gas Markets
The NYMEX has come off slightly from the highs that were seen last week. 2023 is trading in a much more favorable range.
Futures as of 3/9/2022 versus previous week:
| Apr-22 | $4.526 | -$.236 |
| May-22 | $4.561 | -$.226 |
| Jun-22 | $4.610 | -$.216 |
| Jul-22 | $4.670 | -$.204 |
| Aug-22 | $4.682 | -$.198 |
| Sep-22 | $4.666 | -$.193 |
Natural Gas Inventory
Working gas in storage was 1,519 Bcf as of Friday, March 4, 2022. According to EIA estimates this represents a net decrease of 124 Bcf from the previous week.
The Baker Hughes exploration gas count came in at 135 this week, which was up five from last week. There are 43 more rigs in service compared to this time last year.
Weather Update
Above normal temperatures are expected among most of the east coast along with the mid-west. A few pockets of near normal expected in Texas and the Northwest.
National Weather Service Updates (NOAA)
Hurricane Watch: Click here to view the National Hurricane Center site.
Equatorial Pacific Outlook:
Click here to view La Nina and El Nino status.
Energy News
U.S. Energy Secretary Granholm calls on oil and gas companies to raise output
With oil prices recently hitting the highest level since 2008, Secretary of Energy Jennifer Granholm took to the stage in front of a room full of energy executives with a simple message: raise output.
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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.