Weekly Market Energy Report: January 23, 2020

January 24, 2020

February Gas Falls Below $2

Natural Gas

Natural gas prices have plunged through support levels as February 2020 prices have fallen below $2/MMBtu.

Today’s withdrawal of 92 Bcf was slightly larger than expected but did not give a boost to the market. Total gas in storage is now 554 Bcf above last year.

Electricity

The 30 day average price of real time power has continued to fall as prices remain unseasonably low. The 30 day average is now down to $16.13/MWh.

Energy futures continue to hang around decade lows. These lows are somewhat mitigated by increased capacity costs in New York.

Charts

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