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April 11, 2019
Natural Gas

Little movement for natural gas in the last week. Down around 4 cents today puts us right near where we were last week with May gas at $2.66/MMBtu.

Today the EIA announced an injection of 25 Bcf of gas into storage. Total gas in storage is now 485 Bcf behind the 5 year average.

Real time power prices have stayed low for the past week. The 30 day average remains below $30/MWh at $27.98.

A little bump to electricity futures this week as the 12 month strip rose by 40 cents to $34.70/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.
Gov. Andrew Cuomo’s subsidy of upstate nuclear plants will cost more than his administration's original estimate as electricity prices stay lower than forecast.
The state said in 2017 that the 12-year subsidy for the three aging plants would cost an estimated $2.9 billion. But that calculation was based on electricity and capacity prices increasing in the coming years.
The first re-calculation of the subsidy took place last month, and the price of the subsidy actually increased
starting April 1 because of the higher social cost of carbon set by the federal government. The increase of 12 percent, to $19.59 per megawatt hour, means ratepayers will pay nearly $1.1 billion over the next two years to keep the plants open.
The latest update brings the total cost of the nuclear subsidy in the first four years to more than $2 billion — and even based on the state’s previous forecast, the total cost would now be north of $3.1 billion.
The nuclear subsidies in the form of zero emissions credits, or ZECs, were approved in 2016 as part of the Clean Energy Standard, which also subsidizes new renewable energy projects.

Read the full article here
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