Electricity Markets
Forward markets stayed flat over the past week. All forward markets have remained in sync over the past month, mainly driven by changes in Natural gas pricing.
Mild weather returned last week, briefly keeping spot prices in check before a slight late week run up.
Natural Gas Markets
2024 forward pricing line remains flat for most of the balance of the year, with the exception of the late fall months. Winter pricing down from last week. Spring 2025 and 2026 pricing came down over the past week. 2025 and 2026 forward pricing years continue to exhibit a small spread
Futures as of 2/1/2024 versus previous week:
| Current | ||
| Mar-24 | $2.050 | -$0.168 |
| Apr-24 | $2.064 | -$0.171 |
| May-24 | $2.157 | -$0.168 |
| Jun-24 | $2.324 | -$0.166 |
| Jul-24 | $2.656 | -$0.079 |
| Aug-24 | $2.543 | -$0.155 |
Natural Gas Inventory
Working gas in storage was 2,659 BCF as of Friday, January 26th, according to EIA estimates. This represents a net decrease of 197 Bcf from the previous week.
The Baker Hughes exploration decreased by 2 rigs, for a total of 117 this week.
Weather Update
Temperatures will be above average across the East Coast and Midwest, and below average across the Mountain West and Southwest
Hurricane Watch: Click here to view the National Hurricane Center site.
News : US LNG exports in Jan near record highs despite export uncertainty- US LNG exports in January approached the record highs set last month despite spells of colder weather and uncertainty over the US government’s LNG policies.
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