Weekly Market Update- 5/15/2023

Electricity Markets

Forward markets stayed flat over the past week with minimal volatility. Markets should remain favorable in the coming weeks.

Temperatures warmed up over the last week after a brief cool spell. Spot markets remain stable with no swings in pricing as a result of minimal gas demand.

Natural Gas Markets

Little change in outward pricing years over the last week. 2025 forward pricing year still increasing and will have a premium built in.


Futures as of 5/11/2023 versus previous week:

Jun-23 $2.192 +$0.047
Jul-23 $2.328 -$0.005
Aug-23 $2.409 $0.000
Sep-23 $2.404 +$0.008
Oct-23 $2.513 -$0.002
Nov-23 $2.957 -$0.015

Natural Gas Inventory 

Working gas in storage was 2,141 BCF as of Friday, May 5th, according to EIA estimates. This represents a net increase of 78 Bcf from the previous week.


The Baker Hughes exploration decreased by 16 rigs for a total of 141 this week.

Weather Update

Temperatures will be above average on the West Coast and Upper Midwest, and below average across the Southeast and Southern Plains


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


News: US EIA bumps up US gas consumption forecasts, lowers Q2 price forecast- US natural gas consumption for electricity generation will reach the second-highest level on record this summer, the US Energy Information Administration said May 9, as it raised gas demand estimates for the second and third quarters of 2023.  


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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