Weekly Market Update- 3/27/2023

Electricity Markets

There was a slight downward trend in forward markets over the last week and volatility has decreased in comparison to most of 2022. The market continues to remain in optimal, and now is still a good time to look at pricing

Spot markets enjoyed another quiet week as seasonal weather has continued to take hold across the east coast.

Natural Gas Markets

2023 Forward pricing remains low, but the gap between 2024 and 2025 future pricing is widening.


Futures as of 3/23/2023 versus previous week:

Apr-23 $2.195 -$0.300
May-23 $2.327 -$0.263
Jun-23 $2.557 -$0.240
Jul-23 $2.814 -$0.185
Aug-23 $2.859 -$0.177
Sep-23 $2.817 -$0.174

Natural Gas Inventory 

Working gas in storage was 1,900 BCF as of Friday, March 17th, according to EIA estimates. This represents a net decrease of 72 Bcf from the previous week.


The Baker Hughes exploration gas remained unchanged for a total of 162 this week. There are 137 additional rigs in operation than at this time one year ago.

Weather Update

Temperatures will be above average across the Southeast, and below average across the Northeast and West Coast.


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


News : PJM and its stakeholders address natural gas, power market misalignment- PJM Interconnection is working with stakeholders to address misalignments between power and natural gas markets as grid operators become increasingly dependent on gas-fired generation to balance the grid while gas pipelines are increasingly constrained, making it difficult to address variations in load and intermittent generation.

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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