Electricity Markets
ISO-NE, PJM and NYISO saw their first drop in the electric that we have seen in quite some time.
We should see temperatures above normal in the next couple of days. More of summertime temperatures, however, not a big reaction to pricing yet.
Natural Gas Markets
NYMEX is now trading down from last week. 2024 is still showing a “normal” range in pricing.
Futures as of 5/11/2022 versus previous week:
|
|
Current |
|
|
Jun-22 |
$7.25 |
$-1.165 |
|
Jul-22 |
$7.767 |
$-0.705 |
|
Aug-22 |
$7.653 |
$-0.808 |
|
Sep-22 |
$7.0285 |
$-1.384 |
|
Oct-22 |
$7.0775 |
$-1.330 |
|
Nov-22 |
$12.037 |
$3.574 |
Natural Gas Inventory
Working gas in storage was 1643 Bcf as of Friday, May 6, 2022. According to EIA estimates this represents a net increase of 76 Bcf from the previous week.
The Baker Hughes exploration gas count came in at 149 this week, which is up two from last week. There are 53 more rigs in service compared to this time last year.
Weather Update
Most of the Southeast half of the country will continue to see above normal temperatures, whereas the west coast will remain cooler than normal.
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.
Power Warnings Grow Across U.S.
Electric‐grid operators say wind and solar aren’t being deployed fast enough to fill gap
If you would like to receive the Energy Market Update to your inbox weekly, please click here to submit your name and email address.
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.