Energy Market Update 4-25-2022

Electricity Markets

All electric markets, with the exception of ERCOT, saw another step up.

Cooler temperatures brought on an increase in daily pricing earlier in the week.

Natural Gas Markets

The NYMEX remained steady over the past week, with little fluctuation. The remainder of 2022 is still extremely elevated.

  Futures as of 4/20/2022 versus previous week:
May-22 $6.937 -$0.060
Jun-22 $7.065 -$0.031
Jul-22 $7.158 -$0.015
Aug-22 $7.151 -$0.023
Sep-22 $7.102 -$0.049
Oct-22 $7.112 -$0.051
Natural Gas Inventory
Working gas in storage was 1,450 Bcf as of Friday, April 15, 2022. According to EIA estimates this represents a net increase of 53 Bcf from the previous week.

The Baker Hughes exploration gas count came in at 144 this week, which is up one since last week. There are 50 more rigs in service compared to this time last year.

Weather Update

A wave of cooler than normal temperatures will be seen on most of the east coast along with the upper Northwest. The Southwest and central plains will see some warmer than normal weather in the coming week.

National Weather Service Updates (NOAA)

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

US natural gas storage to continue rising below five-year average pace

The US natural gas storage deficit likely widened through mid-April as unseasonably cool weather fueled late-season heating demand, supporting a now aging rally in the NYMEX gas futures market. 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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