Gas Strip at 3 Year Lows
Downward pressure on natural gas prices persists and is continuing to push July 2019 prices towards $2.30/MMBtu. The 12 month strip is currently at more than a three year low at $2.535/MMBtu.
Today’s injection of 102 Bcf raised total gas in storage to 2,088 Bcf, 189 Bcf ahead of last year’s level.
Despite being up more than $2/MWh from last week, the 30 day average price of power is still low at only $22.68/MWh.
Electric futures have crept further downward following last week’s sharp fall of more than $2/MWh. The 12 month strip is now $32.38/MWh.
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