Electricity Markets
All forward markets saw a week-over-week increase. The largest jump was seen in New England, which is being driven by the rising cost of the underlying natural gas basis.
Temperatures were higher over the past week, but spot pricing remained low in light of low electric demand.
Natural Gas Markets
All future pricing years rose over the past week with the largest increase was in the near term.
Futures as of 4/20/2023 versus previous week:
| Current | ||
| May-23 | $2.250 | +$0.180 |
| Jun-23 | $2.416 | +$0.174 |
| Jul-23 | $2.609 | +$0.159 |
| Aug-23 | $2.677 | +$0.169 |
| Sep-23 | $2.650 | +$0.167 |
| Oct-23 | $2.739 | +$0.164 |
Natural Gas Inventory
Working gas in storage was 1,930 BCF as of Friday, April 14th. according to EIA estimates. This represents a net increase of 75 Bcf from the previous week.
The Baker Hughes exploration increased by 2 rigs for a total of 159 this week. There are 143 additional rigs in operation than at this time one year ago.
Weather Update
Temperatures will be below average across the East Coast and Midwest, and above average across the West Coast.
Hurricane Watch: Click here to view the National Hurricane Center site.
News : Russia-Ukraine war continues to challenge global power markets: S&P Global analyst- The impacts of the Russia -Ukraine war continue to cause challenges for energy markets across the globe, with US decarbonization goals expected to take longer than planned, a power expert with S&P Global Commodity Insights said April 18.
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