Market Energy Report: January Futures Contracts Down
Since opening as the prompt month at $3.131/MMBtu, January 2017 futures have taken over a 30 cent dive; over 10 cents of which came yesterday.
Yesterday the EIA announced a 2 Bcf injection of gas into storage which added more downward pressure to the market. This is the first injection of the heating season to occur since 2012.
Real-time power prices dipped a little bit lower this week pulling the 30 day average below $25/MWh.
Electricity futures continue to follow the natural gas market and are down from last week. The 24-month strip is now back below $30/MWh at $29.27/MWh as of Wednesday’s close.
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