Electricity Markets
Forward markets were quiet over the last week. All regions saw a slight decrease. Texas experienced a larger drop as record heat finally subsided. The difference between PJM and NY pricing has gradually decreased over the last few months.
High temperatures subsided after a hot week last week. Minimal volatility in spot pricing over the last week. However, spot pricing continues to gradually trend upward.
Natural Gas Markets
All forward pricing years increased slightly. 2024 and 2025 years saw the largest increases. Forward pricing still remains optimal
Futures as of 7/6/2023 versus previous week:
| Current | ||
| Aug-23 | $2.655 | +$0.027 |
| Sep-23 | $2.641 | +$0.029 |
| Oct-23 | $2.728 | +$0.031 |
| Nov-23 | $3.121 | +$0.070 |
| Dec-23 | $3.554 | +$0.083 |
| Jan-23 | $3.785 | +$0.068 |
Natural Gas Inventory
Working gas in storage was 2,877 BCF as of Friday, June 30th, according to EIA estimates. This represents a net increase of 72 Bcf from the previous week.
The Baker Hughes exploration increased by 5 rigs, for a total of 135 this week.
Weather Update
Temperatures will be above average across the West Coast and South, and below average across the Upper Midwest
Hurricane Watch: Click here to view the National Hurricane Center site.
News : Texas power market to match, exceed peak load records with heatwave, but prices tame- The Electric Reliability Council of Texas market’s load June 26 matched its previous 80.1-GW record and was set to establish higher records June 27 and thereafter, as triple-digit high temperatures persisted throughout the region, but strong renewables output kept wholesale power prices in check.
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