Weekly Market Energy Report: Warm Weather Boosts NY Electricity
July 2018 futures rose over 7 cents in the first three days of trading this week, however continues to be unable to get over $3/MMBtu.
This morning a larger than anticipated injection of gas into storage caused a brief slip in the market which has since moved back to being roughly flat on the day.
Cheaper power prices from some more mild temperatures this week has helped to lower the 30 day average more than $1.50/MWh.
The 12 month strip has now reached $31/MWh which it has not done since January. The 24 month strip is now above $30/MWh which it also has not done since January.
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