This draw was a bit above expectations, and also eclipsed last year's total for this week, as well as the 5-year average for this week. Power market futures gave back some ground this week, correcting a portion of last week's major spikes. NYISO and PJM saw the most significant weekly LMP movement.
United States
Power market futures came back with a vengeance this week, with the Russia/Ukraine war clearly influencing the domestic markets. While the forthcoming summer strip saw relatively minor increases, Winter '22-'23 spiked significantly. The natural gas storage report was in line with expectations, but exceeded last year's number.
United States
While spot power prices were on the decline this past week, futures saw an opportunity to climb. Summer strip positions were up in every region this week, most notably in ERCOT and PJM, where futures jumped 10%. ERCOT saw the heaviest near-term upward movement of any territory.
United States
The natural gas storage report for the week ending 1/14 indicated a withdrawal of 206 Bcf. This draw came in slightly above expectations, and also exceeded the benchmarks for last year's coincident week, as well as the 5-year average for the week.
United States
The natural gas storage report for the week ending 1/7 indicated a withdrawal of 179 Bcf. This draw came in close to expectations, but eclipsed the benchmarks for last year's coincident week, as well as the 5-year average for the week.
United States
The natural gas storage report came in well below expectations, and also fell significantly short of the benchmarks for last year's coincident week, as well as the 5-year average. The onset of significant cold presents potential constraints on natural gas pipelines -- which in turn impacts fuel for natural gas- fired power generation.
United States