Electricity Markets
Forward markets have continued to stay flat over the past few weeks. Minimal volatility and favorable weather have kept forward markets stable.
Temperatures were more variable over the past week. However gas demand and pricing remains low which has kept spot pricing stable.
Natural Gas Markets
Some movement near term in forward pricing years. 2024 forward pricing year went up but 2025 forward pricing year came down.
Futures as of 5/18/2023 versus previous week:
| Current | ||
| Jun-23 | $2.390 | +$0.198 |
| Jul-23 | $2.526 | +$0.198 |
| Aug-23 | $2.602 | +$0.193 |
| Sep-23 | $2.587 | +$0.183 |
| Oct-23 | $2.685 | +$0.172 |
| Nov-23 | $3.114 | +$0.157 |
Natural Gas Inventory
Working gas in storage was 2,240 BCF as of Friday, May 12th, according to EIA estimates. This represents a net increase of 99 Bcf from the previous week.
The Baker Hughes exploration remained the same for a total of 141 this week.
Weather Update
Temperatures will be above average across the upper Midwest and the Northeast, and below average across the Southeast and Southwest
Hurricane Watch: Click here to view the National Hurricane Center site.
News : US’ PJM stakeholders work to address natural gas-fired power generator fuel-cost issues- PJM Interconnection stakeholders are working through measures to strengthen coordination between the natural gas and electric systems, with one issue being how to address circumstances where gas purchases are made due to a PJM directive, and then generators are not called on to operate in real time.
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.