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WEEKLY MARKET UPDATE
March 7, 2019
Natural Gas

March 2019 futures contracts settled last week at $2.855/MMBtu. April 2019 contracts are up roughly 5 cents since taking over as the prompt month last week.
The separation between the 12 and 24 month strip has grown to levels we haven't seen since early January, now at a 14 cent discount for the longer term.
Electricity

Real time power prices have remained low as we get closer to the end of February. The 30 day average has fallen further, now down to $25.43/MWh.

The downward momentum of electricity futures has stalled for both strips. The 12 and 24 month strips are remaining tight to each other, currently separated by just 3 cents.
 
 
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.
 
Business and labor leaders addressed the looming moratorium on new natural gas hookups in Westchester County at an event in Albany on Wednesday hosted by New Yorkers for Affordable Energy.
They hope to make the case that new gas supply is needed to support continued economic growth, good-paying union jobs and even reduce emissions in the near term. But they will face fierce pushback from most environmental advocates.
A lack of pipeline capacity, along with increasing demand due to economic growth and switching from dirtier fuel to gas, led Con Edison to announce a moratorium on new firm gas customers in southern Westchester County starting March 15. This  puts new commercial and residential developments, including affordable housing, at risk.
The Public Service Commission has approved energy efficiency and heat pump investments
in Westchester County that were proposed by Con Ed, as well as allowing the company to propose in its pending rate case more investments in compressed natural gas facilities to inject more supply in the county. Those "smart solutions" will not be enough to alleviate the moratorium.

Read the full article here
WEATHER WATCH
 
NOAA 8-14 Day Outlook
NOAA 30 Day Outlook
 
 
 
 


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