Weekly Market Energy Report: Electric Futures Hold Despite Gas Futures Increase
March 2019 futures contracts settled last week at $2.855/MMBtu. April 2019 contracts are up roughly 5 cents since taking over as the prompt month last week.
The separation between the 12 and 24 month strip has grown to levels we haven’t seen since early January, now at a 14 cent discount for the longer term.
Real time power prices have remained low as we get closer to the end of February. The 30 day average has fallen further, now down to $25.43/MWh.
The downward momentum of electricity futures has stalled for both strips. The 12 and 24 month strips are remaining tight to each other, currently separated by just 3 cents.
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