Forward electric prices continue to rise and are now the highest we’ve seen in most markets since the winter of 2018.
Cooler than normal temperatures throughout last week led to less volatility in daily electric markets.
Natural Gas Markets
NYMEX continues to climb for the remainder of 2021 and are now at the highest projected rates in the last 7 years.
Futures as of 8/4/2021 versus previous week:
Natural Gas Inventory
As of Friday, July 30, 2021 working gas in storage was 2,727 Bcf. According to EIA estimates this represents a net increase of 13 Bcf from the previous week.
The Baker Hughes exploration gas count is the same from the previous week for a total of 103 rigs. This is 34 more rigs than the 69 in operation at this time one year ago.
Most of the CONUS will warmer than normal temperatures in the coming week.
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.
Atlantic Hurricane Season Looking to Reignite, Impact Natural Gas Production, Says NOAA Conditions are ripe for another above-average hurricane season that could potentially send ripples throughout natural gas production in the Gulf of Mexico (GOM) over the next three months, the National Oceanic and Atmospheric Administration (NOAA) said in a new forecast.
Major gas pipelines face 1.6 million Dth/d of expiring contracts in Q3 Major U.S. natural gas pipelines have 1.6 million Dth/d of firm transportation contracts scheduled to roll off during the third quarter, according to an analysis of S&P Global Market Intelligence data.
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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.