Electricity Markets
Forward markets stayed flat over the past week with minimal volatility. Markets should remain favorable in the coming weeks.
Temperatures warmed up over the last week after a brief cool spell. Spot markets remain stable with no swings in pricing as a result of minimal gas demand.
Natural Gas Markets
Little change in outward pricing years over the last week. 2025 forward pricing year still increasing and will have a premium built in.
Futures as of 5/11/2023 versus previous week:
| Current | ||
| Jun-23 | $2.192 | +$0.047 |
| Jul-23 | $2.328 | -$0.005 |
| Aug-23 | $2.409 | $0.000 |
| Sep-23 | $2.404 | +$0.008 |
| Oct-23 | $2.513 | -$0.002 |
| Nov-23 | $2.957 | -$0.015 |
Natural Gas Inventory
Working gas in storage was 2,141 BCF as of Friday, May 5th, according to EIA estimates. This represents a net increase of 78 Bcf from the previous week.
The Baker Hughes exploration decreased by 16 rigs for a total of 141 this week.
Weather Update
Temperatures will be above average on the West Coast and Upper Midwest, and below average across the Southeast and Southern Plains
Hurricane Watch: Click here to view the National Hurricane Center site.
News: US EIA bumps up US gas consumption forecasts, lowers Q2 price forecast- US natural gas consumption for electricity generation will reach the second-highest level on record this summer, the US Energy Information Administration said May 9, as it raised gas demand estimates for the second and third quarters of 2023.
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