Energy News

Weekly trends and insights on the Natural Gas and Electricity Markets
Electricity Markets All electric ISO’s took a slide over the report week following a drop in natural gas prices.
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Electricity Markets All ISO’s saw a gain on the electric market over the report week with the exception of ERCOT. The biggest spike was seen in NYISO, were the Indian Point Unit 2 closure recently took place. The impact of this generation may have been understated and we will see where prices move absent this significant amount of generation. The biggest change may be in the winter months when this base load capacity is out downstate and needs to be replaced with natural gas.
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Electricity Markets With the exception of NYISO, the rest of the ISO’s moved down slightly following lower natural gas prices over the report week. NYISO trended up just slightly, possibly tied to Indian Point being close to going offline.
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Electricity Markets Electric markets picked up over the report week. There was a spring up in all markets, smallest being in NYISO, while PJM, ISO-NE and ERCOT all saw a good adjustment. The increase in electric prices is due in large part to the natural gas markets rebounding.
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Electricity Markets ISO-NE and ERCOT electric prices continued to climb over the report week while NYISO and PJM flattened out.
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Electricity Markets Forward electric prices are up across all markets. The shift can be attributed to the increase in both natural gas and oil prices.
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Electricity Markets Electric markets held largely steady for another week in a row. It’s important to remain aware however of market variables in various regions that could begin to impact these low prices. In NYISO, Somerset Coal Plant officially closed its doors, taking 600-700 MW of capacity out of the market. In April, the 1st unit of Indian Point Nuclear plant will shudder another 1,000 MW of capacity and next April 2021, the second unit will close with 1,000 MW more being taken offline. Capacity will likely begin to creep...
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Electricity Markets The suppressed activity on the energy markets continued into the last week of March. ERCOT was the only market that saw a slight tick up on the electric market, while the other ISO’s held steady.
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Electricity Markets The downward trend in the electric and natural gas markets continued over the report week. With the erosion of demand in correlation to the Coronavirus, this should come as no surprise. ERCOT has come down quite a bit, starting to approach last year’s lows. Strong, favorable pricing remains in NYISO, ISO-NE and PJM.
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Electricity Markets Pricing held steady across New York, New England, and PJM this past week as the underlying cost of natural gas remains historically low. Texas saw a drop in forward rates after ERCOT announced no concerns for capacity restraints in their spring forecast as well as confidence in their summer season.
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Electricity Markets Pricing remains low across ISOs this week as the underlying cost of natural gas continues to be extremely low. Halted LNG exports due to the fear of the Coronavirus are a contributing factor.
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Electricity Markets Pricing fell across all ISOs as the underlying cost of gas dropped over the last market week.
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Electricity Markets Pricing continued to rise across all ISOs in relation to the underlying cost of gas. Texas saw the most dramatic increase as peak summer rates continue to climb.
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Electricity Markets Electricity continued to experience a slight rebound this week as sustained winter temperatures and conditions were observed throughout most of the US.ISO-NE held its 14th forward capacity auction for 2023-2024 and cleared at $2.00/KW-month. This will continue the downward descent of forward capacity pricing in the region which currently stands at $7.03/KW-month, slated to drop to $5.30/KW-month for 2020-2021, $4.63/KW-month for 2021-2022, and then $3.80/KW-month for 2022-2023.
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Electricity Markets Electricity rebounded slightly across all markets as near-term pricing reacted to a brief rise in the underlying cost of natural gas.
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Electricity Markets The downward trend continues with a softer slope than has been observed in previous weeks. ISO-NE, heavily affected by near-term lows, is at some of its most competitive levels in the last decade. Forward fixed rates remain extremely attractive even when comparing relatively higher outward year pricing.
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Electricity Markets All markets experienced a similar drop in pricing as the near-term underlying cost of gas falls in response to limited demand in the face of mild winter weather. The forward 12M average of ISO-New England is particularly affected by the unseasonably low trading cost of this winter’s electricity. Though winter 2020-2021 is still historically competitive, this 12M forward average is likely to rise as we pick up next winter’s trading months.
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Electricity Markets Continued mild temperatures and steady low gas futures led to a quiet week across most electric markets. ERCOT saw another bump upwards in response to rising summer 2020 prices.
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Electricity Markets Electric markets saw a small bump upwards over the last market week but month over month continue to remain extremely competitive. Pricing across all regions has been primarily driven by the low underlying cost of natural gas. ISO-NE’s forward average is highly reflective of uncharacteristic near-term lows; 2021 rates of this same timeframe are not quite as similarly competitive.
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Electricity Markets Electric markets continue to trend down and are now reminiscent of pre-2017 levels. Mild winter weather has kept the underlying cost of natural gas low and volatility isolated to short spikes in the daily markets.
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Electricity Markets Electric markets saw another drop as we moved into the holiday week. Warmer temperatures and lower demand brought down rates in the near-term and continue to afford incredible value in outward years.
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Electricity Markets Electric markets saw the slightest tick up over the report week. On a broad scale, the overall wholesale cost of energy is down. It remains a good time to take advantage of opportunities in the market you can control, as many other non-energy related components are expected to continue driving up costs into the future.
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