Weekly Market Energy Report: Electric Futures Down Despite Gas Rebound
Natural gas futures prices fell Monday on weakening demand. They’ve since regained most of their losses as they’re up again today.
Despite a smaller than anticipated withdrawal from storage, natural gas storage levels are now the lowest they’ve been since 2014 at 1,186 Bcf.
Real time power prices are up slightly from last week but still low. The 30 day average is now at $25.88/MWh.
Electricity futures dropped off a bit this week, down about 70 cents from the week prior. The 12 and 24 month strips remain close, separated by only 9 cents.
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