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WEEKLY MARKET UPDATE
July 9, 2020
Natural Gas

Natural gas futures have made a big recovery in the last two weeks. The 12 month strip has risen 20 cents since June 28th.

Today's injection of 56 Bcf of gas into storage was in line with estimates and brought total gas in storage to 17% above the 5 year average.
Electricity

The 30 day average price of real time power continues to climb with summer cooling demand, up more than $3/MWh from 2 weeks ago.

Power futures are creeping up slightly with added momentum from natural gas prices rebounding. The 12 month strip is up to $27.62/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.
According to data from the U.S. Energy Information Administration’s (EIA) latest Electric Power Monthly, April residential electricity sales in the United States have increased 8% compared with April 2019. At the same time, the commercial and industrial sectors saw decreases of 11% and 9%, respectively. U.S. residential electricity sales have never been this high in April. Commercial electricity sales in April were the lowest April value since April 2003, and industrial sales were the lowest since April 1987.
Across all sectors, April U.S. electricity sales declined 4% compared with last April, largely as a result of measures to reduce the spread of COVID-19.
The residential sector is relatively sensitive to temperature changes. Based on the previous five Aprils, EIA estimates that the U.S. residential sector would have used about 3.1 million megawatthours (MWh) per day in April 2020. Actual residential electricity demand in April 2020 was 3.3 million MWh/day, or about 6% higher than the typical April value.

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

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