Energy Futures Falling on Warmer Weather
Natural gas prices continue to fall as more warm weather is expected for much of the east coast. Trading of May futures will end next Friday, currently May is looking to be one of the lowest settles since 2016.
Today the EIA announced an injection of 92 Bcf of gas into storage, moving total gas in storage to only 57 Bcf behind last year.
Real time power prices have continued to stay low for the past several weeks. The 30 day average continues to trickle down, now $25.95.
A drop in electric futures this week to accompany the drop in natural gas brought both the 12 and 24 month strip down by around $1/MWh. The 12 month strip is now down to $33.57/MWh.
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