Energy News 3-21-2022

Electricity Markets

Electric markets remain elevated with the continued political tensions, despite a small drop in NYISO and ISO-NE.

Warmer weather brought on less volatility in the daily markets.

 

Natural Gas Markets

2022 future NYMEX saw a move back up but outer years, such as 2023 and 2024, remained favorable.

Futures as of 3/16/2022 versus previous week:
Apr-22 $4.748 +$.222
May-22 $4.784 +$.223
Jun-22 $4.829 +$.219
Jul-22 $4.880 +$.210
Aug-22 $4.888 +$.206
Sep-22 $4.870 +$.204
Natural Gas Inventory
Working gas in storage was 1,440 Bcf as of Friday, March 11, 2022. According to EIA estimates this represents a net decrease of 79 Bcf from the previous week.

The Baker Hughes exploration gas count came in at 137 this week, which was up two from last week. There are 45 more rigs in service compared to this time last year.

 

Weather Update

A mix of weather patterns are expected this week. The West and East coastlines are expected to be warmer than normal with the central plains to be below normal temperatures.

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

News : Algonquin, city-gates spot gas falls to year-to-date low as spring approaches

New England natural gas benchmark Algonquin city-gates dropped to its lowest price so far this year during March 15 trading for next-day flows, as forecast warmer temperatures herald the possible end to a winter heating season that has been defined by waves of successive cold snaps and pricing volatility. 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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