Weekly Market Update- 4/3/2023

Electricity Markets

There was very little movement this week across all forward markets and pricing remains favorable.

The spot markets experienced little volatility amid seasonably warm temperatures over the past week.

Natural Gas Markets

The gaps between forward pricing have widened further as 2023 continues to be hyper-competitive with relief happening more slowly in the outward years of 2024 and 2025.


Futures as of 3/30/2023 versus previous week:

Apr-23 $2.132 -$0.063
May-23 $2.392 $0.065
Jun-23 $2.668 $0.111
Jul-23 $2.721 -$0.093
Aug-23 $2.687 -$0.172
Sep-23 $2.782 -$0.035

Natural Gas Inventory 

Working gas in storage was 1,853 BCF as of Friday, March 24th, according to EIA estimates. This represents a net decrease of 47 Bcf from the previous week.


The Baker Hughes exploration decreased by 2 rigs for a total of 160 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 west coast, and below normal across the mid-Atlantic.


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


News : Enterprise sees US LNG feed gas demand threatening to outpace ‘fragile’ production- US midstream operator Enterprise Products Partners said the crash in US gas prices this winter showed the “fragility of natural gas ” but that overall US gas production will need to increase from current levels to meet future demand that will be increasingly driven by rising LNG exports.    


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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