Weekly Market Energy Report: High Demand Lifts Real Time Electric Prices
September 2018 gas futures have continued to ride the momentum generated from last weeks low storage injection. In total the contract is up over 20 cents from Friday.
This morning the EIA announced an injection of 46 Bcf of gas into storage raising total storage levels to 2,354 Bcf, 671 Bcf behind year-ago levels.
Increased electricity demand lifted real time power prices this week, raising the 30 day average price of real time power by over 80 cents.
The 12 month electricity futures strip is back on the rise now flirting with $32/MWh again. The 24 month strip is also up slightly now within 20 cents of $31/MWh.
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