Electricity Markets
Forward markets remain mostly flat, if not slightly down across the Northeast. Texas forward markets went up over the last week as heat continues to bake the Southern Plains. Markets continue to remain calm as there are minimal forcing mechanisms moving markets at the moment.
Cooler and more seasonal weather returned across the Northeast. Spot pricing responded and returned to stable consistent prices that were seen over the majority of the summer.
Natural Gas Markets
Minimal movement in forward NYMEX pricing. 2024 and 2025 pricing years are beginning to consolidate.
Futures as of 9/21/2023 versus previous week:
| Current | ||
| Oct-23 | $2.704 | -$0.031 |
| Nov-23 | $2.888 | -$0.125 |
| Dec-23 | $3.286 | -$0.162 |
| Jan-24 | $3.536 | -$0.158 |
| Feb-24 | $3.467 | -$0.150 |
| Mar-24 | $3.204 | -$0.118 |
Natural Gas Inventory
Working gas in storage was 3,269 BCF as of Friday, September 15th, according to EIA estimates. This represents a net increase of 64 Bcf from the previous week.
The Baker Hughes exploration decreased by 3 rigs, for a total of 118 this week.
Weather Update
Temperatures will be above average across the East Coast and Midwest, and below average across West Coast
Hurricane Watch: Click here to view the National Hurricane Center site.
News : Williams sees ‘better than ever’ fundamentals for US gas in growing electrification, LNG- Market fundamentals for natural gas are better today than ever before, according to Williams President and CEO Alan Armstrong, who said Sept. 6 that pipeline operators have immense growth opportunities in growing LNG feedgas demand and the electrification of various economic sectors.
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