Energy Market Update 5-24-2021

Electricity Markets

ISO-NE finally saw some downward movement in forward markets while both NYISO AND PJM saw upward trends this week.

Warmer than normal temperatures saw some upward movement in electric markets with the increased load.

 

Natural Gas Markets

Slight run up in NYMEX for the remainder of 2021, now with most months trading above $3.00

.

  Futures as of 5/19/2021 versus previous week:
Jun-21 $2.932 -$0.034
Jul-21 $2.999 -$0.020
Aug-21 $3.013 -$0.015
Sep-21 $3.008 -$0.007
Oct-21 $3.025 -$0.008
Nov-21 $3.093 -$0.001
Natural Gas Inventory

As of Friday, May 14, 2021 working gas in storage was 2,100 Bcf. According to EIA estimates this represents a net increase of 71 Bcf from the previous week.

 

The Baker Hughes exploration gas count is down 1 from the previous week for a total of 99 rigs. This is 20 more rigs than the 79 in operation at this time one year ago.

   

Weather Update

 

Temperatures are expected to be warmer than normal throughout most of central and mid-Atlantic regions. With some cooler temperatures expected in the Northwest.

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

  IEA unveils blueprint to reach net-zero emissions by 2050 The International Energy Agency has unveiled what it describes as the world’s first comprehensive road map to reach net-zero greenhouse gas emissions by 2050.   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.

Leave a Reply