Electricity Markets
ISO-NE and PJM have seen a gap increase in prices. ISO-NE set new highs for forward prices. However, ISO-Texas saw near term drop because of early drop in Natural gas prices.
We see elevated prices given the high temperatures across the country. All future prices are elevated.
Natural Gas Markets
Visual gap between 2023 forwards versus this year. However, 2024 remains flat. Algonquin basis was up $1.00. with a $0.82 drop in forward NYMEX.
Futures as of 6/15/2022 versus previous week:
| Current | ||
| Jul-22 | $7.2275 | $-1.472 |
| Aug-22 | $7.2085 | $-1.471 |
| Sep-22 | $6.65 | $-1.999 |
| Oct-22 | $6.769 | $-1.868 |
| Nov-22 | $13.703 | $5.013 |
| Dec-22 | $25.7865 | $17.006 |
Natural Gas Inventory
Working gas in storage was 2,095 Bcf as of Friday, June 10, 2022. According to EIA estimates this represents a net increase of 92 Bcf from the previous week.
The Baker Hughes exploration gas count came in at 154 this week, which is up two from last week. There are 96 more rigs in service compared to this time last year.
Weather Update
The summer forecast still remains above normal for the majority of the country. With sporadic states far North and Southwest seeing below normal temperatures.
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.
Freeport LNG in Texas won’t return to full service until late 2022operator Freeport LNG’s export terminal on Quintana Island, Texas, will not return to full service until late-2022, the terminal operator said June 14.
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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.