Weekly Market Energy Report: 11% Gas Production Growth in 2018
Natural gas futures prices fell yesterday on weaker residential and commercial demand. Total US demand fell an estimated 4 Bcf/d since Monday.
Today’s storage withdrawal announcement of 47 Bcf drops remaining gas in storage to 1,143 Bcf. Total gas in storage is now 315 Bcf behind last year and 556 Bcf behind the 5-year average.
Real time power prices are up slightly from last week but overall still low. The 30 day average is now at $26.97/MWh.
Electricity futures rose slightly after last week’s 70 cent drop. The 12 month strip is up 40 cents from last week to $34.97/MWh.
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