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WEEKLY MARKET UPDATE
February 21, 2019
Natural Gas

March 2019 futures contracts are up over 10 cents from last week after now rising another 5 cents today. Last day of trading for March 2019 will be on Tuesday.

This morning the EIA announced a larger than expected withdrawal of 177 Bcf. This helped to continue to lift futures contracts on the day.
Electricity

Real time power prices have remained low as we get closer to the end of February. The 30 day average had fallen further from last week now down to $28.01/MWh.

Electricity futures are down from last week as they continue to slowly retreat from this winter's spike. The 12 month strip is down nearly $1 from last week to $34.84/MWh.
 
 
12 & 24 Month NYMEX Strip
12 & 24 Month Zone A Power Strip
 
 
 
This document is intended for indicative purposes only. All information contained within this report is acquired from third party sources and EnergyMark makes no representations or warranties, express or implied, as to the accuracy of the information provided herein. EnergyMark is not liable for any actions or decisions made in reliance on the information provided in the report.
 
In the depths of the deep freeze late last month, nearly every power plant in the Eastern and Central U.S. that could run was running.
Energy analysts saw a useful experiment in that week of extreme cold: What would have happened, they asked, if the power grid had relied exclusively on renewable energy—just how much battery power would have been required to keep the lights on?
Using energy production and power demand data, they showed how a 100 percent renewable energy grid, powered half by wind and half by solar, would have had significant stretches without enough wind or sun to fully power the system, meaning a large volume of energy storage would have been necessary to meet the high demand.
Schauer's analysis shows storage would need to go from about 11 gigawatts today to 277.9 gigawatts in the grid regions that include New England, New York, the Mid-Atlantic, the Midwest and parts of the South. That's roughly double Wood Mackenzie's current forecast for energy storage nationwide in 2040.
WEATHER WATCH
 
NOAA 8-14 Day Outlook
NOAA 30 Day Outlook
 
 
 
 

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