Weekly Market Energy Report: December 10, 2020

November 20, 2020

Electric Futures Briefly Break $25/MWh

Natural Gas

Natural gas futures fell further from last week before rebounding today. Even after today’s rebound, January 2021 contracts are still down around 20 cents from last week.

This week’s storage report showed a much larger withdrawal from storage than expected and added momentum to the rebound. Total gas in storage is now 7% ahead of the 5 year average.

Electricity

Stronger real time power prices have pulled the 30 day average nearly $3/MWh higher from this time last week.

Electricity futures crept lower, the 12 month strip briefly sank below $25/MWh. The strip has not broken that level since April in the wake of Covid-19 lockdowns.

Charts

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This document is intended for indicative purposes only. All information contained within this report is acquired from third-party sources and EnergyMark makes no representations or warranties, express or implied, as to the accuracy of the information provided herein. EnergyMark is not liable for any actions or decisions made in reliance on the information provided in the report.

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