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WEEKLY MARKET UPDATE
February 15, 2018
Natural Gas

March 2018 futures are continuing their downward momentum. Now down over 60 cents in the last 2 weeks.

Today's larger than expected withdrawal from storage lowers total gas in storage to 1,884 Bcf, 577 Bcf below levels for this week last year.
Electricity

The 30 day average price of power is down another $7 MWh from last week and is less than half of what it was two weeks ago now approaching $30/MWh.

Electricity futures are down slightly from last week. The 24 month strip is now within 20 cents of the historic low set back on December 21st.
 
 
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.
 
This winter’s cold snap saw New York City’s Transco Zone 6 natural gas prices surge to an average $47.34/MMBtu during a 13-day period, a 1,374% increase over the average for the period in December before the deep freeze hit on Christmas Day.
Load-weighted electric locational-based marginal prices averaged $135.96/MWh during the cold snap, a 297% increase over December’s pre-Christmas average of $34.27/MWh. Power prices did not increase in line with gas prices because NYISO market systems selected lower-cost resources, primarily dual-fuel units capable of operating on lower-cost oil.
NYISO’s load peaked at 25,081 MW on Jan. 5, exceeding the seasonal forecast of 24,365 MW but falling short of the high of 25,738 MW recorded in January 2014.

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

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