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WEEKLY MARKET UPDATE
March 28, 2019
Natural Gas

Yesterday was the last day of trading for April 2019 gas futures. The contract settled at $2.713/MMBtu, the lowest monthly settle since last April.

Today's storage withdrawal announcement of 36 Bcf drops remaining gas in storage to 1,107 Bcf. Total gas in storage is now 285 Bcf behind last year as it closes in on 1Tcf.
Electricity

The 30 day average real time cost of power continues to rise while still remaining below $30/MWh. In the last week, the 30 day average has rose nearly $2.50/MWh.

Electricity futures are up just slightly from last week after showing some strength early in the week. The 12 month strip is up just 15 cents from last week.
 
 
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.
 
U.S. natural gas consumption increased by 10% in 2018, reaching a record high of 82.1 billion cubic feet per day (Bcf/d), according to EIA’s recently released Natural Gas Monthly. Domestic consumption of natural gas increased across all sectors in 2018, led by a 3.8 Bcf/d increase in the electric power sector caused by a combination of recent natural gas-fired electric capacity additions and weather-related factors.
The electric power sector consumed 29.1 Bcf/d in 2018, or 35% of total domestic U.S. natural gas consumption. Natural gas continued to make up the highest share of utility-scale electricity generation after first surpassing coal-fired generation on an annual basis in 2016. Specifically, natural gas accounted for one-third (35%) of utility-scale electricity generation in 2018, followed by coal (27%), nuclear (19%), and hydropower (7%).

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

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