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WEEKLY MARKET UPDATE
December 7, 2018
Natural Gas

After falling nearly 30 cents through Thursday of this week, January 2018 contracts have rebounded today, up around 15 cents.

This week's storage report was delayed one day in observance of the passing of President George H.W. Bush. Today the EIA announced a withdrawal of 63 Bcf of gas, dropping total gas in storage below 3,000 Bcf.
Electricity

Higher gas prices continue to push the price of electricity upward. The 30 day average price of power is now up to $37.55/MWh.

Electricity futures rebounded this week after last week's drop off. The 12 month strip is up 50 cents from last week, back over $37/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.
 
A study released in June found that the United States and Canada will require annual average natural gas, oil and natural gas liquids midstream infrastructure investment of about $44 billion per year, from 2018 through 2035.
Natural gas infrastructure makes up over half of the needed energy infrastructure identified in the report, with total investments forecast at $417 billion, or an average of $23 billion annually, from 2018 through 2035. Natural gas infrastructure includes gathering and transmission pipelines, compressors, laterals, gas-lease equipment, processing, gas storage and LNG export facilities. Low natural gas prices have fostered growth in the power generation market as coal and nuclear plants continue to be retired across the United States.
The U.S. Northeast is currently seeing strong activity, with a number of pipelines coming online or in various stages of construction.

Read the full article with a roundup of some of the more significant natural gas pipeline projects currently under development in the United States here.
WEATHER WATCH
 
NOAA 8-14 Day Outlook
NOAA 30 Day Outlook
 
 
 
 

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