Energy Market Update

Electricity Markets

ISO-NE pricing rebounded slightly week over week as winter pricing rose in response to increased natural gas pricing into the region due to the Algonquin basis.

The NYISO experienced some localized volatility but at or above normal temperatures led to a quiet week in the daily markets.

Natural Gas Markets

Forward natural gas remained largely flat week over week with the largest dip observed in the prompt month, December 2021.

 

Futures as of 11/17/2021 versus previous week:

 
Dec-21 $4.874 -$0.113
Jan-22 $4.972 -$0.111
Feb-22 $4.877 -$0.096
Mar-22 $4.636 -$0.058
Apr-22 $3.999 -$0.044
May-22 $3.934 -$0.029
Natural Gas Inventory

As of Friday, November 12, 2021 working gas in storage was 3,725 Bcf. According to EIA estimates this represents a net increase of 7 Bcf from the previous week.

The Baker Hughes exploration gas count remained the same from the previous week for a total of 102 rigs. This is 26 more rigs than the 76 in operation at this time one year ago.

 

Weather Update

Warmer than normal temperatures are expected across the Western half of the US with cooler than normal temperatures expected up and down the East Coast.

National Weather Service Updates (NOAA)

Hurricane Watch: Click here to view the National Hurricane Center site.

Equatorial Pacific Outlook:

Click here to view La Nina and El Nino status.

Energy News

ISO NEW ENGLAND TRACKER: Power and gas spot, forwards up sharply on year ISO New England wholesale power prices at major hubs increased by more than 120% year on year in October as natural gas prices rose by similar levels and Mass Hub forward power prices pushed above $180/MWh in October trading. 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.

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