Electricity Markets
Forward electric markets saw another large jump up this past week. Cooler weather and higher cost of underlying natural gas due to continued political tensions are the cause.
Some milder temperatures brought on little fluctuation on daily pricing markets.
Natural Gas Markets
The NYMEX saw another steep climb up over the past week. 2022 is now trading around the $7.00 mark.
Futures as of 4/13/2022 versus previous week:| May-22 | $6.997 | +$0.834 |
| Jun-22 | $7.096 | +$0.852 |
| Jul-22 | $7.173 | +$0.864 |
| Aug-22 | $7.174 | +$0.863 |
| Sep-22 | $7.151 | +$0.861 |
| Oct-22 | $7.163 | +$0.854 |
Natural Gas Inventory
Working gas in storage was 1,397 Bcf as of Friday, April 8, 2022. According to EIA estimates this represents a net increase of 15 Bcf from the previous week.
The Baker Hughes exploration gas count came in at 143 this week, which is up two since last week. There are 50 more rigs in service compared to this time last year.
Weather Update
Most of the country will be at or below normal temperatures for next week.