Weekly Market Update- 4/29/2024

Electricity Markets

Forward markets stayed mostly flat over the past week. Texas did see an increase as springtime heat returned to the south. Warmer weather in the coming weeks could put upward pressure on forward pricing.


Temperatures cooled off in the northeast over the past week. Lack of natural gas demand from weather kept spot pricing calm over the last week.

Natural Gas Markets

Minimal week over week movement in near term years. 2026 forward pricing beginning to push upward in response to long term load growth uncertainty


Futures as of 4/25/2024 versus previous week:

May-24 $1.629 -$0.132
Jun-24 $1.939 -$0.046
Jul-24 $2.292 -$0.018
Aug-24 $2.417 -$0.001
Sep-24 $2.419 +$0.004
Oct-24 $2.525 +$0.005

Natural Gas Inventory 

Working gas in storage was 2,425 BCF as of Friday, April 19th , according to EIA estimates. This represents a net increase of 92 Bcf from the previous week.


The Baker Hughes exploration decreased by 1 rig, for a total of 105 this week.

Weather Update

Temperatures will be above average across most of the United States


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


News : Mountain Valley seeks US FERC nod to start service on 304-mile gas pipeline- The Mountain Valley Pipeline, a 304-mile, 2 Bcf/d natural gas pipeline project that will add another outlet for Appalachian Basin supplies, “will be ready for service in May,” the developer said in a request to the US Federal Energy Regulatory Commission for authorization of the startup.


  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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