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WEEKLY MARKET UPDATE
April 19, 2018
Natural Gas

Natural gas futures showed little movement this week prior to today. However today May 2018 futures are down around 7 cents.

Natural gas withdrawals continue as we are now in what is typically gas injection season. Today the EIA reported a 36 Bcf withdrawal from storage.
Electricity

Sustained demand due to colder temperatures has caused increases to the 30 day average price of real time power for 7 straight days, now up over $5/MWh from last week.

This week the gap between the 12 and 24 month strips has closed to only 9 cents as the 12 month strip fell 14 cents while the 24 month strip rose by 8 cents.
 
 
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.
 
Governor Andrew Cuomo’s Clean Energy Standard has spurred just one-fifth of the new renewable energy generation promised in 2016.
New data from New York Independent System Operator (ISO), which oversees the state’s electrical grid and wholesale market, indicate that 28 percent of the energy sold into the competitive market in 2017 came from renewables, up from 24 percent a year earlier.
On their face, the numbers in the ISO’s annual load and capacity report seem to point to significant progress toward Cuomo’s goal of having 50 percent of the state’s electricity come from renewables by 2030. That increase, however, was driven primarily by increased output from existing hydroelectric generators, chiefly the state-run dams at Niagara Falls and Massena. The two largest dams, which produce most of the state’s hydroelectric power, saw an 8 percent jump in output "due to increased water levels on Lakes Erie and Ontario resulting in higher water flow to the Niagara and St. Lawrence hydroelectric plants."

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

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