Energy Prices Rebound
After rebounding back over $2.20/MMBtu, September futures are trending back down, falling around 5 cents in the last two days.
Today’s storage injection puts gas in storage just 4% behind the five year average. At the start of this spring inventories were 30% behind the five year average.
The 30 day average of real time power is down slightly from last week as mild weather has continued to depress prices.
Electricity futures continue to fall lower from last week. The 24 month strip is down 20 cents from last week to $31.09/MWh.
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