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WEEKLY MARKET UPDATE
May 24, 2018
Natural Gas

On Tuesday, June 2018 futures rose nearly 10 cents on warmer weather forecasts. The largest one day rally for a prompt month in four months.

Today's slightly smaller than anticipated injection of gas into storage gave a small boost to the market, June 2018 is up roughly another two cents.
Electricity

Cheap power prices this week have helped bring down the 30 day average cost of power. Down over $3/MWh from last week.

The rise in the natural gas market also caused a jump in electricity futures. The 12 month strip is up over 50 cents from last week to $30.40/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.
 
Consumer Energy Alliance (CEA) yesterday released a report titled "Pipelines and their Benefits to New York" at a breakfast discussion on the Future of Natural Gas and Economic Development in New York, hosted by New Yorkers for Affordable Energy. Faced with a new everyday reality of energy insecurity for many in the U.S., CEA’s report examines the benefits of pipelines to New York - specifically highlighting the need for affordable energy supplies to keep the daily lives of families and businesses across New York moving.
CEA’s report examines the benefits of pipelines, and the availability of fuels like natural gas, outside of the traditional scope of jobs and economic growth. That’s because CEA believes the benefits of pipelines should also be examined for their cost reductions and the critical service the energy they transport provides to New York’s families, small businesses and households – especially people living on the margins of society or even paycheck-to-paycheck.
Highlights from the report include:
  • In New York, natural gas alone provides nearly 46 percent of the state’s electricity needs. As the state continues to rely more and more on natural gas and building or expanding gas-fired power plants, that number is expected to rise to 56 percent of New York’s electric needs.
  • 74 percent of energy generation for downstate residents is provided by fossil fuels – and natural gas is used by more than half of all New Yorkers to heat their homes.
WEATHER WATCH
 
NOAA 8-14 Day Outlook
NOAA 30 Day Outlook
 
 
 
 

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