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WEEKLY MARKET UPDATE
November 14, 2019
Natural Gas

Natural gas futures prices have taken a downturn after several weeks of upward momentum. The 12 month strip is now down below $2.50/MMBtu.

Today's injection of 3 Bcf will likely be the last one for the year as demand picks up. Total gas in storage is 491 Bcf higher than last year.
Electricity

The 30 day average price of real time power is rebounding on the back of this week's cold weather, currently up to $22.80/MWh.

Electricity futures are bouncing around this week as the market finds direction. The 12 and 24 month strips both briefly dropped below $30/MWh on Tuesday.
 
 
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.
Facing a potential shortfall in natural gas supplies due to certain factors, including regulatory holdups of a key interstate pipeline project, gas utility National Grid is planning to use trucked shipments to ensure supplies to customers in New York and New England during the coldest parts of winter.
The plans call for National Grid to truck in LNG to the site, where it will be vaporized and injected into the local gas distribution system to provide an emergency backup gas supply to Aquidneck Island. The project will only be on the site from December 1 through March 31 and will only be mobilized when it is required to back up the gas supply to the island, the utility said in its waiver request.
National Grid has announced similar plans to truck in compressed natural gas to serve as backup supplies of gas during peak usage periods in New York state. The utility contends it needs to take those steps to ensure New York customers have adequate access to supplies because of state regulators in New York and New Jersey having slowed the progress of the 37-mile Northeast Supply Enhancement project, which is designed to bring 400 MMcf/d of incremental gas supply into New York City and Long Island.

Read the full article here
 
WEATHER WATCH
 
NOAA 8-14 Day Outlook
NOAA 30 Day Outlook
 
Check out this video explaining community solar from the New York State Energy Research and Development Authority!
 
 
 
 

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