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WEEKLY MARKET UPDATE
August 9, 2018
Natural Gas

September 2018 gas futures have continued to ride the momentum generated from last weeks low storage injection. In total the contract is up over 20 cents from Friday.

This morning the EIA announced an injection of 46 Bcf of gas into storage raising total storage levels to 2,354 Bcf, 671 Bcf behind year-ago levels.
Electricity

Increased electricity demand lifted real time power prices this week, raising the 30 day average price of real time power by over 80 cents.

The 12 month electricity futures strip is back on the rise now flirting with $32/MWh again. The 24 month strip is also up slightly now within 20 cents of $31/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.
 
The Federal Energy Regulatory Commission (FERC) ruled against the DEC and in favor of National Fuel's Northern Access pipeline project Monday. The pipeline would supply natural gas to Western New York, from northern Pennsylvania through Allegany, Cattaraugus, Erie County.

This ruling removes a major barrier to the completion of this project which will help improve reliability of the energy grid while also bringing abundant, cheap natural gas from Pennsylvania to Western New York customers.

National Fuel says the project will bring 1700 jobs to the area. National Fuel is currently working to revise the project schedule following the delays created by the DEC ruling.
WEATHER WATCH
 
NOAA 8-14 Day Outlook
NOAA 30 Day Outlook
 
 
 
 

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