ISO-NE and NYISO have seen a decrease in prices. While PJM is experiencing higher than expected pricing. Overall natural gas is down, with an increase in Algonquin basis.
We are seeing the reaction of the various markets from warmer than normal temperatures. Over the past week we have seen pricing come down from highs that we have been experiencing.
Natural Gas Markets
The remainder of 2022 NYMEX is starting to balance out, with future 2023 prices also in a downward motion. The drop in NYMEX was about $0.62 over the last week.
Futures as of 6/22/2022 versus previous week:
Natural Gas Inventory
Working gas in storage was 2,169 Bcf as of Friday, June 17, 2022. According to EIA estimates this represents a net increase of 74 Bcf from the previous week.
The Baker Hughes exploration gas count came in at 157 this week, which is up two from last week. There are 97 more rigs in service compared to this time last year.
The Southeastern part of the country will see above normal temperatures whereas the Western part of the country will see 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.
The New York Independent System Operator ’s power markets performed competitively in the first quarter of 2022, with all-in prices rangi$72/MWh-$130/MWh, up 69%-233% from Q1 2021 in all regions, according to the state of the market report.
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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 reco