Market Update 9-12-2022

Electricity Markets

ISO-NE, PJM and NYISO came off slightly over the past week due to higher production levels of natural gas.

We are exiting the cooling season and overall, pricing is on a downward trend.

Natural Gas Markets

Near term natural gas rates dipped in response to a strong injection into storage.

 

Futures as of 9/7/2022 versus previous week:

  Current  
Oct-22 $7.842 $-1.494
Nov-22 $7.901 $-1.499
Dec-22 $8.035 $-1.497
Jan-23 $8.115 $-1.477
Feb-23 $7.818 $-1.336
Mar-23 $6.705 $-1.002

Natural Gas Inventory 

Working gas in storage was 2,694 Bcf as of Friday, September 2, 2022. According to EIA estimates this represents a net increase of 54 Bcf from the previous week.

 

The Baker Hughes exploration gas count remained the same at 166 this week. There are 102 additional rigs in operation than at this time one year ago.

Weather Update

The majority of the Midwest is predicted to see above normal temperatures, whereas the Coastal Ridge the Southwest regions will see below normal temperatures.

 

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

Equatorial Pacific Outlook: Click here to view La Nina and El Nino status.

 

US can achieve 200 million mt/year LNG export capacity ‘comfortably’:Cheniere The US could build out its LNG production capacity to 200 million mt/year “comfortably” in the coming 5-10 years as projects continue to be developed,a senior official from US LNG pioneer Cheniere Energy said Sept. 6.

US natural gas production hits 9-month high as NYMEX futures rally falters US natural gas production is on a tear this month, trending at its highest since late 2021, as steady gains in drilling activity this year begin boosting domestic supply in a potentially chilling turn for gas prices. 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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