Electricity Markets
Forward markets trended slightly downward over the past week. Lengthy market stability continues. Not many factors pushing volatility right now. PJM and NYISO forward markets continue to tighten up.
Warm weekend caused spot pricing to briefly spike, but cooler weather returned to stabilize spot pricing.
Natural Gas Markets
2024 and 2025 forward pricing years came down slightly. Market remains strong, winter pricing still optimal.
Futures as of 8/3/2023 versus previous week:
| Current | ||
| Sep-23 | $2.541 | -$0.152 |
| Oct-23 | $2.646 | -$0.163 |
| Nov-23 | $3.041 | -$0.194 |
| Dec-23 | $3.473 | -$0.172 |
| Jan-24 | $3.699 | -$0.149 |
| Feb-24 | $3.629 | -$0.139 |
Natural Gas Inventory
Working gas in storage was 3,001 BCF as of Friday, July 28th, according to EIA estimates. This represents a net increase of 14 Bcf from the previous week.
The Baker Hughes exploration remained unchanged, for a total of 128 this week.
Weather Update
Temperatures will be above average across the West Coast, Southern Plains and East Coast, and below average across the Upper Midwest
Hurricane Watch: Click here to view the National Hurricane Center site.
News : US POWER TRACKER: PJM Gas-fired power output up on year, power forwards decline- Natural gas-fired generation continues to surge in PJM Interconnection, rising more than 8% and reaching record levels in July, while forward power prices declined 64% on year and forward gas prices declined 77%.
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