November Gas Eclipses $3
November 2020 gas eclipsed $3/MMBtu yesterday after 3 straight days of movement upwards. This is the first time the prompt month has settled above $3 since January 25th 2019.
Today’s injection of 49 Bcf was slightly smaller than anticipated. Total gas in storage is now only 9% above the 5 year average.
Real time power prices have stayed steady in the last two weeks. The 30 day average has stayed below $16/MWh for several weeks now.
The 12 month electric futures strip continues to bounce back and forth just below the $30/MWh threshold, now at $29.66/MWh.
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