Weekly Market Update- 11/28/22

Electricity Markets

Markets moved up dramatically this week in response to cold weather.

Markets have responded to sustained cold. Pricing in New England has responded with large increases over the past week.

Natural Gas Markets

Short term pricing has increased and become more volatile because of sustained cold. Outward years still look optimal.


Futures as of 11/23/2022 versus previous week:

Dec-22 $6.779 $0.491
Jan-23 $7.409 $0.734
Feb-23 $7.170 $0.746
Mar-23 $6.314 $0.689
Apr-23 $5.064 $0.174
May-23 $4.984 $0.203

Natural Gas Inventory 

Working gas in storage was 3,564 BCF as of Friday, November 18th. According to EIA estimates this represents a net decrease of 80 Bcf from the previous week.


The Baker Hughes exploration gas count decreased by 2 rigs for a total of 155 this week. There are 102 additional rigs in operation than at this time one year ago.

Weather Update

Temperatures will be below average across the West and Midwest. Temperatures will be above average across the Southeast and the East Coast.


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

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


News : Several North American grids may lack power in extreme winter conditions: NERC- Much of the North American bulk power system remains at risk of “insufficient electricity supplies during peak winter conditions,” especially in Texas, the Midwest, New England and Alberta, the North American Electric Reliability Corp. reported Nov. 17.

News : Freeport LNG expects initial production in mid-December, subject to regulatory approval Freeport LNG expects initial production at the US liquefaction facility to resume in mid-December, subject to regulatory approval, the operator said in astatement Nov. 18.



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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