Electricity Markets
All markets saw a sharp move up over the past week with the cost of natural gas driving the markets up.
Colder than normal weather drove rates up earlier in the week.
Natural Gas Markets
The NYMEX has moved up since last week and is now over the $4.00 market for the remainder of the 2022 trading year.
Futures as of 1/12/2022 versus previous week:| Feb-22 | $3.867 | +$0.990 |
| Mar-22 | $3.716 | +$0.611 |
| Apr-22 | $3.664 | +$0.470 |
| May-22 | $3.690 | +$0.442 |
| Jun-22 | $3.735 | +$0.441 |
| Jul-22 | $3.785 | +$0.444 |
Natural Gas Inventory
Working gas in storage was 3,016 Bcf as of Friday, December 7, 2022. According to EIA estimates this represents a net decrease of 179 Bcf from the previous week.
The Baker Hughes exploration gas count came in at 109 this week, which was up two from last week. There are 25 more rigs in service compared to this time last year.
Weather Update
The central U.S. and all of the east coast are expected to see colder than normal temperatures and the west coast is expected to see warmer than normal temperatures.