NYISO and ISO NE are up from last week. PJM is down slightly, but continues to see elevated prices, up from what we have seen historically.
Warmer than normal temperatures are still predicted for future months. In the Northeast, we have already seen several hot days for May. We can see the reaction to the electric markets in result to that.
Natural Gas Markets
Near term pricing is still at an elevated level through next winter and then will come off slightly.
Futures as of 6/1/2022 versus previous week:
Natural Gas Inventory
Working gas in storage was 1,902 Bcf as of Friday, May 27, 2022. According to EIA estimates this represents a net increase of 90 Bcf from the previous week.
The Baker Hughes exploration gas count came in at 151 this week, which is up two from last week. There are 53 more rigs in service compared to this time last year.
The Southern half of the country will see above normal temperatures, whereas the Northern part of the country will be below normal. The direct opposite from previous week.
National Weather Service Updates (NOAA)
Hurricane Watch: Click here to view the National Hurricane Center site. Hurricane Alex
Equatorial Pacific Outlook: Click here to view La Nina and El Nino status.
NuScale makes public debut but requires ‘a lot of financing’ to launch small nuclear reactor in 2029 The meltdown of the Fukushima nuclear power plant in 2011 essentially put the nail in the coffin of the construction of big nuclear power plants with similar technologies in the U.S., according to nuclear proponents and watchdogs.
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.