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WEEKLY MARKET UPDATE
November 21, 2018
Natural Gas

The volatility continues in the natural gas market as December 2018 contracts rose over 65 cents Friday and Monday before falling over 17 cents Tuesday.

The market received another boost this morning from the first storage withdrawal of the season which was larger than expected. Total gas in storage now falls to 3,113 Bcf.
Electricity

Real time power prices continue to be propped up by high gas prices. The 30 day average sits at $33.45/MWh as of Tuesday.

Electricity futures continue to follow the lead of the natural gas market. The 12 month strip has blown by the high set last week and is now at $38.49/MWh, the highest we've seen since June of 2016.
 
 
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.
 
On a typical weekday in November, electricity usage tends to have two peaks: a morning peak and a slightly higher evening peak. On Thanksgiving, electricity demand tends to be highest late morning, as families cook meals and gather to celebrate the holiday. And because most businesses are closed, overall electricity demand on Thanksgiving Day tends to be lower.
Peaks in electricity demand result from simultaneous electricity usage in the residential and commercial sectors. Typical weekdays have two demand peaks—one in the morning and one in the evening—as electricity is used to meet lighting and space conditioning demands. The morning peak reflects the timing of most Americans waking up and going to work, while the reverse is true in the evenings, as households use electricity to heat their homes, prepare food, or watch television.

Read the full article here

WEATHER WATCH
 
NOAA 8-14 Day Outlook
NOAA 30 Day Outlook

Have a Happy Thanksgiving!
 
 
 
 

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