Energy New 4-11-2022

Electricity Markets

All forward electric markets saw another week of higher forward pricing as colder weather lingers pushing natural gas rates up too.

Some milder temperatures brought on little fluctuation on daily pricing markets.

Natural Gas Markets

The remainder of 2022 NYMEX saw a large increase as rates trade above the $6 mark. 2023 and 2024 are now elevated compared to previous years too.

  Futures as of 4/6/2022 versus previous week:
May-22 $6.163 +$0.558
Jun-22 $6.244 +$0.586
Jul-22 $6.309 +$0.595
Aug-22 $6.311 +$0.594
Sep-22 $6.290 +$0.595
Oct-22 $6.309 +$0.607
Natural Gas Inventory
Working gas in storage was 1,382 Bcf as of Friday, April 1, 2022. According to EIA estimates this represents a net decrease of 33 Bcf from the previous week.

The Baker Hughes exploration gas count came in at 141 this week, which is up three since last week. There are 50 more rigs in service compared to this time last year.

Weather Update

Most of the country will be at or below normal temperatures for next week.

National Weather Service Updates (NOAA)

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

US Henry Hub gas futures top $6 as wintry weather, supply concerns linger

Benchmark US gas futures prices rocketed past $6/MMBtu in April 5 trading for the first time since late January as lingering cold weather and persistent supply concerns fueled an aging rally on the NYMEX. 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.
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