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  Weekly Market Update

December 28, 2017

  Natural Gas

Trading of January 2017 futures contracts closed Wednesday at $2.738, down nearly 40 cents from their open as the prompt month back on November 29th.

Today in February 2017's first day as the prompt month it is up nearly 20 cents, pushing back into the $2.90s.

  Electricity  

Several days of expensive power have brought the 30 day average up nearly 4 dollars to $27.79/MWh.

After weeks of continually setting new lows, electricity futures rebounded this week. The 12 month strip is up over a dollar from this time last week to $29.58/MWh

  12 & 24 Month NYMEX Strip

  12 & 24 Month Zone A Power Strip

  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.

Nothing like a cold spell to boost the nation’s natural gas demand, and cost.

Forecasts now indicate this week’s outbreak will be stronger than anticipated, with Chicago seeing sub-zero readings. In New England, spot prices more than tripled to the highest in over three years and turned the region into the world’s priciest market.

Total U.S. gas consumption jumped 31 percent to 115.7 billion cubic feet on Tuesday from Friday. That’s the most ever for this time of year in PointLogic Energy data back to 2007. Not only have more homes converted to the fuel from oil in Connecticut through Maine, the region’s generators are more reliant on gas to produce electricity than anywhere else in the country.

Gas for next-day delivery on Enbridge’s Algonquin city gate in New England, including Boston, settled at $35.35 per million British thermal units on the Intercontinental Exchange on Tuesday. Algonquin gas last rose that high in February 2014 during the polar vortex.

Read the full article here

 Weather Watch  

  NOAA 30 Day Outlook