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WEEKLY MARKET UPDATE
July 26, 2018
Natural Gas

Similar to last week, August 2018 futures fell before rebounding later on in the week. August 2018's final settle will occur tomorrow, currently down about 20 cents from a month ago.

Today's gas storage injection of 24 Bcf came in much lower than anticipated however did little to spark the market.
Electricity

Real time power prices have remained steady this week making little change to the 30 day average price of power from last week.

The 12 month electricity futures strip has moved very little from last week, up only 2 cents. However the 24 month strip is down nearly 40 cents from last week, bouncing back and forth over the last few days.
 
 
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.
 
Additional clarity regarding facilitation of New York's massive 2.4 GW offshore wind development goal emerged Monday when regulators discussed the procurement process with stakeholders at a technical conference in New York.
NYSERDA issued a detailed request for information Friday designed to help the agency craft a request for proposals for 800 MW of offshore wind capacity it plans to issue in the fourth quarter of 2018. The 800 MW would account for one-third of the state's 2.4-GW-by-2030 goal.
NYSERDA will purchase offshore renewable energy credits from eligible developers on behalf of the state's load-serving entities and then resell them to the LSEs for compliance with their obligations. Each LSE will be obligated to purchase the percentage of ORECs (Off-Shore Renewable Energy Credits) purchased by NYSERDA in a year that represents the portion of the electric energy load they serve.
WEATHER WATCH
 
NOAA 8-14 Day Outlook
NOAA 30 Day Outlook
 
 
 
 

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