Electricity Markets
Forward markets increased slightly over the past week, continuing the longer term trend of slow market gains. Forecasts of a warm summer and electric demand increases in outward years are putting upward pressure on electric pricing in 2025 and beyond.
Temperatures this week remained mild, keeping natural gas demand low. There was minimal volatility in spot pricing, and spot prices have trended down slightly the past few weeks.
Natural Gas Markets
Forward pricing years saw some slight upward movement. 2025 and 2026 winters saw the the biggest increases, but 2024 still has optimal pricing
Futures as of 4/18/2024 versus previous week:
| Current | ||
| May-24 | $1.761 | -$0.085 |
| Jun-24 | $1.985 | -$0.052 |
| Jul-24 | $2.310 | -$0.046 |
| Aug-24 | $2.418 | -$0.047 |
| Sep-24 | $2.415 | -$0.042 |
| Oct-24 | $2.520 | -$0.033 |
Natural Gas Inventory
Working gas in storage was 2,333 BCF as of Friday, April 12th , according to EIA estimates. This represents a net increase of 50 Bcf from the previous week.
The Baker Hughes exploration decreased by 3 rigs, for a total of 106 this week.
Weather Update
Temperatures will be above average across the Eastern half of the United States, and below average across the West Coast
Hurricane Watch: Click here to view the National Hurricane Center site.
News : Surging electricity demand challenges US utilities; CEOs turning to generation, wires- After decades of slow load growth, surging power demand from electrification of the US economy in a context of increased technical and environmental pressures poses multiple challenges for power markets and utilities, executives said April 16.
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.