Market Energy Report: Futures Continue To Fall
January 2017 futures made a brief rally on Monday of over 13 cents before falling again, now into the low $2.60’s.
Yesterday the EIA announced a larger than expected 182 Bcf withdrawal from storage. This gave the market a short boost before finishing down 4 cents on the day.
Real time power prices were cheap this week causing the 30 day average to fall. The 30 day average price of power is now $23.90/MWh.
Electricity futures continued to fall this week to record lows. Both the 12 and 24 month strips are now below $29/MWh.
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