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WEEKLY MARKET UPDATE
January 23, 2020
Natural Gas

Natural gas prices have plunged through support levels as February 2020 prices have fallen below $2/MMBtu.

Today's withdrawal of 92 Bcf was slightly larger than expected but did not give a boost to the market. Total gas in storage is now 554 Bcf above last year.
Electricity

The 30 day average price of real time power has continued to fall as prices remain unseasonably low. The 30 day average is now down to $16.13/MWh.

Energy futures continue to hang around decade lows. These lows are somewhat mitigated by increased capacity costs in New York.
 
 
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.
According to the U.S. Energy Information Administration’s (EIA) latest inventory of electric generators, EIA expects 42 gigawatts (GW) of new capacity additions to start commercial operation in 2020. Solar and wind represent almost 32 GW, or 76%, of these additions. Wind accounts for the largest share of these additions at 44%, followed by solar and natural gas at 32% and 22%, respectively.
Solar photovoltaics. EIA expects 13.5 GW of solar capacity to come online in 2020, surpassing the previous annual record addition of 8 GW in 2016. More than half of the utility-scale electric power sector solar photovoltaic (PV) capacity additions will be in four states: Texas (22%), California (15%), Florida (11%), and South Carolina (10%). The residential and commercial sectors will also experience record growth as a result of new distributed PV or rooftop systems.
Natural gas. Planned natural gas capacity additions for 2020 are 9.3 GW. Combined-cycle plants account for 6.7 GW and combustion-turbine plants account for 2.3 GW. More than 70% of these additions are in Pennsylvania, Texas, California, and Louisiana.
Nuclear. Two nuclear plants totaling 1.6 GW are currently scheduled to retire in 2020. Indian Point Unit 2, located in New York, is scheduled to retire in April. Iowa’s only nuclear power plant, Duane Arnold Energy Center, is scheduled to retire in December.

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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