Energy Market Update 6-7-2021

Electricity Markets

All markets saw a move up in forward electric rates. Besides the February 2021 spikes, rates are now the highest they have been in over a year.



This past week was quiet with little volatility but as warmer temperatures come on, electric markets could react.


Natural Gas Markets


NYMEX rates are in the upper range of normal for the remainder of 2021, and are now trading above $3.00.


  Futures as of 6/1/2021 versus previous week:
Jul-21 $3.075 +$0.048
Aug-21 $3.094 +$0.049
Sep-21 $3.086 +$0.046
Oct-21 $3.102 +$0.045
Nov-21 $3.159 +$0.037
Dec-21 $3.281 +$0.040
Natural Gas Inventory

As of Friday, May 28, 2021 working gas in storage was 2,313 Bcf. According to EIA estimates this represents a net increase of 98 Bcf from the previous week.

The Baker Hughes exploration gas count is down 1 from the previous week for a total of 97 rigs. This is 20 more rigs than the 77 in operation at this time one year ago.


Weather Update

Most of the north and central CONUS are expected to see much warmer temperatures with the south and west coast seeing cooler than normal temperatures.


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

US coal-fired power output decline continues with last PSEG coal plant retirement Public Service Enterprise Group said June 1 that it had retired its last remaining coal-fired power plant, the 400-MW Bridgeport Harbor Station Unit 3 in Bridgeport, Connecticut, which operated since 1968, and is part of a continued US trend toward coal plant retirements. 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 sou

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