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WEEKLY MARKET UPDATE
January 31, 2019
Natural Gas

February 2019 gas futures settled Tuesday at $2.950/MMBtu. The contract traded as high as $4.837 back in November.

This morning's smaller than anticipated withdrawal of 173 Bcf of gas caused gas prices to fall further with March 2019 now down two cents.
Electricity

Real time power prices have been remained steady in the face of the ongoing polar vortex with the 30 day average still at only $33.71/MWh.

Electricity futures trickling back down in recent weeks. The 12 month strip is down over $1.50 from 2 weeks ago to $36.24/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.
 
Residents of Northeastern states are struggling with increased electricity costs and an unreliable energy supply as elected officials contemplate expanding natural gas pipelines in the region.
Consolidated Edison, Inc., a New York utility provider, announced on January 18 a moratorium on new natural gas customers in Westchester County, beginning on March 15. The reason given by the utility was "new demand for gas is reaching the limits of the current supplies to our service area." Politico reported that New York State's reluctance to construct new natural gas pipelines is preventing adequate supplies from reaching growing economic centers in New York City, Long Island and Yonkers.
In neighboring New England, the shortage of natural gas infrastructure is more widespread.
"The New England states used to be dependent on coal, oil, nuclear and hydroelectricity," said Dan Kish, senior fellow at the Institute for Energy Research. "And they've shifted quickly to natural gas for generation, and they've shifted so fast that it's caused huge draws of natural gas into the system [pipelines] without increasing infrastructure."

Read the full article here
WEATHER WATCH
 
NOAA 8-14 Day Outlook
NOAA 30 Day Outlook
 
 
 
 

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