With this week's natural gas storage report right in line with anticipated injection levels, we saw very little market volatility on its heels. On the power side, any end-user still looking for last-minute summer 2021 coverage in either CAISO or ERCOT is now seeing some relief, as both regions are looking more attractive from a buying perspective than they were a week ago.
Longer-term futures movement was very stagnant week-over-week, showing less than 2% variance in either direction for any of the ISOs through 2024. The calm nature of this shoulder period continues to represent ideal conditions for locking in future coverage before any potential early heat wave pushes positions higher.
The buying window remains wide open for budget-conscious customers to mitigate risk by securing budget-certainty into 2023 and beyond.
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