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WEEKLY MARKET UPDATE
July 12, 2019
Natural Gas

Natural gas prices have rebounded in recent weeks. August 2019 contracts are up more than 10 cents since they became the prompt month two weeks ago.

Yesterday's injection of 81 Bcf was slightly larger than anticipated. This raises total gas in storage to 2,471 Bcf, 275 Bcf ahead of this time last year.
Electricity

Real time power prices have increased with higher power demand. The 30 day average is now up to $33.63/MWh.

Electric futures have rebounded alongside natural gas after reaching multi-month lows. The 12 month strip is now up to $33.94/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.
 
On May 22, 2019 United Parcel Service (UPS), a global provider of shipping and delivery services, announced that the company would increase its use of renewable natural gas (RNG) in the United States. UPS purchased 170 million gasoline gallon equivalent (gge) from fuel supplier Clean Energy Fuels to meet this commitment, which supports UPS’s sustainability goals. RNG consumption has increased significantly in recent years, and according to UPS, this agreement will be the largest commitment to RNG to date by any company in the United States.
RNG is a transportation fuel derived from biogas through anaerobic digestion at landfills and other facilities. The biogas is cleaned of impurities and upgraded to meet the pipeline specifications for natural gas. The RNG can then be consumed as fuel in CNG and LNG vehicles, a common fuel alternative for medium- and heavy-duty vehicles that would otherwise run on diesel fuel.
RNG consumption in the United States increased significantly following a 2014 EPA ruling that allowed RNG, in either compressed or liquefied form, to qualify as a cellulosic biofuel as part of the Renewable Fuel Standard. According to the U.S. Environmental Protection Agency, nearly 270 million ethanol gallon equivalent (or about 185 million gge) of RNG were produced in 2018, a 133% increase compared with 2015 levels.

Read the full article here

WEATHER WATCH
 
NOAA 8-14 Day Outlook
NOAA 30 Day Outlook
 
 
 
 

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