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WEEKLY MARKET UPDATE
March 26, 2020
Natural Gas

April 2020 continues to trade towards the bottom of it's range this week. On Monday, April 2020 futures fell to the lowest prompt month settle in 27 years at $1.602/MMBtu.

Today's withdrawal of 29 Bcf of gas lowered total gas in storage to 2,005 Bcf, 17% above the five year average.
Electricity

The 30 day average price of real time power continues to fluctuate tightly around $16/MWh, down 55 cents from last week.

Power futures continue to push into new lows. The 12 month strip fell below $24/MWh yesterday to $23.89/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.
Every industry in the world faces dangers and disruptions from the COVID-19 pandemic. Not all of those industries are tasked with keeping the lights on.
U.S. power utilities and generators face an array of risks in the weeks ahead, from energy "demand destruction" as economies slow to tightening debt conditions that could ripple through the commodity markets.
So far, North American utilities have not yet seen the sort of power demand reductions that occurred during China's massive lockdown or those now hitting European countries. But they're likely to start seeing similar impacts soon, according to a Tuesday update from the Wood Mackenzie Power & Renewables and Energy Transition teams.
Italy, as one example, saw an 8.1 percent week-on-week decrease in energy demand after the country ordered its citizens to stay at home and forced the closure of all nonessential businesses.
Utilities' ability to stay on their feet during the coronavirus pandemic is a matter of national security.
Utilities are among the 16 industries labeled as “critical infrastructure sectors” by the U.S. Department of Homeland Security, marking them for a heightened level of cooperation with — and scrutiny from — government agencies tasked with public safety.

Read the full article here
 
WEATHER WATCH
 
NOAA 8-14 Day Outlook
NOAA 30 Day Outlook
 

Since the outbreak of the COVID-19 coronavirus, EnergyMark has been closely monitoring and responding to the developing situation in order to continue fully serving and advising all of our customers without interruption.

Ensuring uninterrupted service
EnergyMark has implemented measures across our organization to ensure our business resiliency. These measures, which are aligned with the recommendations of the Centers for Disease Control and Prevention and the World Health Organization, include allowing some employees to work remotely. Given our designation by the Department of Homeland Security as a critical industry, we are committed to providing our customers with uninterrupted service during this time.

Thank you for your continued trust and confidence in EnergyMark. We remain committed to serving and advising your energy needs through these challenging times.
 
 
 
 

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