Energy Market Update 4-26-2021

Electricity Markets

ISO-NE saw another tick up versus NYISO saw a slight drop in forward pricing. Both PJM and ERCOT saw forward electric pricing remain flat over the week.

Despite the range of temperatures this week, the markets remained quiet.

Natural Gas Markets

Current NYMEX rates are in the center of the normal range. We did see a slight bump up this past week.

.

 

Futures as of 4/21/2021 versus previous week:

May-21 $2.692 +$0.074
Jun-21 $2.776 +$0.083
Jul-21 $2.846 +$0.071
Aug-21 $2.876 +$0.073
Sep-21 $2.863 +$0.073
Oct-21 $2.881 +$0.072
 
Natural Gas Inventory

As of Friday, April 16, 2021 working gas in storage was 1,883 Bcf. According to EIA estimates this represents a net increase of 38 Bcf from the previous week. We are now above the 5-year average range but still behind last year’s numbers.

 

The Baker Hughes exploration gas count was up 1 from the previous week for a total of 94 rigs. This is 9 more rigs than the 85 in operation at this time one year ago.

 

 

Weather Update

 

Temperatures are expected to be warmer than normal throughout the contiguous US with average temperatures expected over the Pacific Northwest and the Northern New England regions.

National Weather Service Updates (NOAA)

 

 

Hurricane Watch: No Hurricanes

Click here to view the National Hurricane Center site.

Equatorial Pacific Outlook:

Click here to view La Nina and El Nino status.

Energy News

Indian Point Is Shutting Down. That Means More Fossil Fuel.

When the Indian Point nuclear power plant shuts, its lost output will be filled primarily by generators that burn fuels that contribute to climate change.

 

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 without notice.

About the author

Leave a Reply