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MARKET TREND ANALYSIS

Weekly Energy Market Updates by Region - Archive

 

 

 


Issue week: December 19th, 2019  (Wk 51)

 

POWER MARKETS

Chart1_Energy_Market_Intelligence_Commercial

 

WEST In the term market, the front months have moved up over the past few days because of changes in the long-term forecast to colder weather and an expectation of increased natural gas with-drawals.

NATURAL GAS 

The EIA reported Thurs-day morning that, for the week ending December 13, U.S. inventories de-creased by 107 Bcf, which turned out to be greater than the predicted with-drawal range of 68-103 Bcf. Total stockpiles now stand at 3,411 Bcf, up by 22.1% from a year ago but 0.3% below the five-year average for the same week.

The market had a slightly bullish reaction to the EIA data. The prompt-month NYMEX futures contract, which traded at $2.25/MMBtu approximately 10 minutes before the re-port, rose by 5 cents to peak at $2.30/MMBtu by mid-morning before ulti-mately closing at $2.273/MMBtu, 1.5 cents above yesterday’s settle.

 

ERCOT   Term prices continue to fall in response to declining natural gas prices. In particular, summer on-peak prices for 2020 are down by nearly $10/MWh from their lofty peaks in October. Real-time prices also are settling lower as the reduced demand and ample generation continue to take their toll. ORDC values for the month are minimal as well.

EAST  Temperatures in the teens have increased Day Ahead prices in ISO-NE by 125% over the last week. Mass Hub peaked at $157/MWh and has averaged $67/MWh for the week. In New York, sys-tem load over-performed by 1,000 MW today, causing a Real Time spike of $570/MWh this morning. Nuclear plants Nine Mile 2 and Indian Point 2 were unexpectedly derated yesterday but should be back online tomorrow.


 

 

 

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