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WEEKLY MARKET UPDATE
November 21, 2019
Natural Gas

Natural gas futures prices continue to trend downward as warmer temperatures return. December futures are down over 10 cents from the start of the month.

Today's withdrawal of 94 Bcf of gas was the first withdrawal of the season. Total gas in storage is now 3,638 Bcf, 60 Bcf behind the 5 year average.
Electricity

The 30 day average price of real time power continues to rebound, currently up over $3/MWh from last week to $25.69/MWh.

Electricity futures have remained steady from last week. The 12 month strip is down slightly to $30.49/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.
The U.S. Energy Information Administration’s (EIA) Natural Gas Annual 2018 shows that the United States set new records in natural gas production, consumption, and exports in 2018. In 2018, dry natural gas production increased by 12%, reaching a record-high average of 83.8 billion cubic feet per day (Bcf/d). This increase was the largest percentage increase since 1951 and the largest volumetric increase in the history of the series, which dates back to 1930. U.S. natural gas consumption increased by 11% in 2018, driven by increased natural gas consumption in the electric power sector.
U.S. natural gas consumption grew in each end-use sector. Demand for natural gas as a home heating fuel was greater in 2018 than in 2017 because of slightly colder weather during most of the winter. Similarly, the summer of 2018 saw record-high temperatures that increased demand for air conditioning and, therefore, electricity—much of which was fueled by natural gas. U.S. electric power sector consumption of natural gas grew by 14% in 2017, more than in any other end-use sector. The electric power sector has been shifting toward natural gas in the past decade because of favorable prices and efficiency gains.

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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