Weekly Energy Market Updates by Region




Issue week: April 28th, 2022  (Wk 17)





WEST  Day Ahead prices are averaging around $85/MWh in Mid-C and $62/MWh in SP15 this week. The especially strong figures in Mid-C are the byproduct of cold weather, the deactivation of natural gas units for maintenance, and lackluster hydro generation—circumstances that have sent strong price signals for power to flow into the Northwest. In the term market, forward prices for Q3 2022 have dropped in lockstep with NYMEX and a collapse in heat rates over the past week.

ERCOT  Real-time prices have been mixed this week; several hours reached triple digits in all zones. The MTD average has settled in the low-to-mid-$50s/MWh, nearly $5.00/MWh above the average for the same period last year. Term prices have fallen since last week, mainly because of the retracement in term natural gas prices. However, drought conditions continue to worsen as summer approaches. In addition, heavy congestion in the night hours has pushed basis in the West Load Zone over $11.00/MWh for the month.

EAST Prices have been relatively steady since last week, having come down, on average, by $4/MWh in the Day Ahead market and $2/MWh in the Real Time market. Both Day Ahead and Real Time are in the $60s/MWh in all of the main hubs, and the DART spread is averaging a minimal $0.60/MWh.


The EIA reported Thursday morning that, for the week ending April 22, U.S. inventories increased by 40 Bcf, hitting the bullseye painted by the industry projections. Total stockpiles now stand at 1,447 Bcf, down by 21.4% from a year ago and 17.0% below the five-year average for the same week.

The NYMEX Henry Hub prompt month of May expired yesterday at $7.267/MMBtu, $0.417/MMBtu above Tuesday’s close. Today, the new prompt month of June dipped by $0.451/MMBtu from yesterday’s final to settle at $6.888/MMBtu. Prompt months have bounced above and below $7/MMBtu regularly for several weeks, so the volatility should continue as summer draws near in the coming months.







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