Energy Prices Rebound
Gas futures have regained upward momentum this week after the 12 and 24 month strips reached more than 3 year lows on Monday.
Following today’s smaller than expected storage announcement, September gas rose over 10 cents. Total natural gas in storage is now at 2,738 Bcf, 357 Bcf ahead of last year.
The 30 day average of real time power is down about $1/MWh from last week as mild weather has prevented any sustained price jumps.
Electricity futures have trickled slightly lower from last week. The 24 month strip is down 50 cents from last week to $31.29/MWh.
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