Real-Time Electricity Prices Advance on High Demand
Natural Gas
Natural gas futures started the week off on a sluggish note as short-term weather forecasts and technical factors sent prices below $3.60/MMBtu.
Despite this early price weakness, futures recovered today and longer-term supply/demand fundamentals continue to support a bullish trend for natural gas.
Today’s injection of 16 Bcf into storage brings total gas in storage to 2,574 Bcf which is 6.9% below the 5 year average level.
Electricity
The 30-day average real-time electricity price for Zone A NY continues to rise week over week as demand for electricity remains strong.
Since last week’s update, real-time prices have increased by $5/MWh.
The 12 and 24 Month electricity futures declined a bit this week, likely following price declines in other energy commodities such as natural gas and oil.
Charts
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Disclaimer
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.
