Electricity Markets
ISO-NE, NYISO are down from last week. Where as PJM is slightly up, but starting to trend downward. From the last few weeks, we are starting to see some relief this summer, however still predicting highs for this upcoming winter.
Algonquin basis jumped up in regard to the drop in the overall NYMEX. We have saw a milder June in comparison to last year. Heating and cooling degree days are below normal, resulting in steady market prices.
Natural Gas Markets
Compared to last month, the remainder of 2022 is down about $3.00/Dth. 2024 still remains the more “normal” balance for Natural gas prices.
Futures as of 7/6/2022 versus previous week:
| Current | ||
| Aug-22 | $5.51 | $-0.988 |
| Sep-22 | $5.482 | $-1.011 |
| Oct-22 | $5.493 | $-1.026 |
| Nov-22 | $5.605 | $-1.009 |
| Dec-22 | $5.74 | $-0.995 |
| Jan-23 | $5.853 | $-0.977 |
Natural Gas Inventory
Working gas in storage was 2,311 Bcf as of Friday, July 1, 2022. According to EIA estimates this represents a net increase of 60 Bcf from the previous week.
The Baker Hughes exploration gas count came in at 153 this week, which is up two from last week. There are 99 rigs in service compared to this time last year.
Weather Update
Northwest is seeing above normal temperatures, whereas the eastern half of the country is seeing below or near 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.
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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 reco