Electricity Markets
Forward markets trended slightly upward across all regions over the past week. In terms of the overall trends, Forward pricing still remains good and forward markets continue to remain quiet.
Spot markets spiked briefly as heat moved through the Northeast midweek, but returned back to normal as seasonal temperatures returned.
Natural Gas Markets
The gap between 2024 and 2025 pricing years decreased over the past week. Winters in forward pricing years continue to come down, and it is still an optimal time to put in pricing positions.
Futures as of 6/8/2023 versus previous week:
| Current | ||
| Jul-23 | $2.313 | +$0.142 |
| Aug-23 | $2.405 | +$0.178 |
| Sep-23 | $2.414 | +$0.187 |
| Oct-23 | $2.535 | +$0.137 |
| Nov-23 | $2.980 | +$0.129 |
| Dec-23 | $3.434 | +$0.104 |
Natural Gas Inventory
Working gas in storage was 2,550 BCF as of Friday, June 2nd, according to EIA estimates. This represents a net increase of 104 Bcf from the previous week.
The Baker Hughes exploration decreased by 2 rigs, for a total of 135 this week.
Weather Update
Temperatures will be above average in the Midwest and Southeast, and below average across the West Coast and Northeast
Hurricane Watch: Click here to view the National Hurricane Center site.
News : US gas-fired power set record in winter, expected to grow this summer: EIA- Amid low natural gas prices and increased coal-fired generator retirements, US power generation from gas this past winter was the highest on record and is expected to be 3% higher this summer than last summer, the Energy Information Administration said July 7.
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