Volume 16, Issue 1 January 7, 2019
In this Issue
Renewable Energy Trends for 2019
Editor's Note
Warm Forecasts, Low Prices
Events
A Clean Energy Future is Good for Your Health
Weather
Local Heating Degree Days*
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Editor's Note
Warm Forecasts, Low Prices
Weekly review for December 30, 2018 January 5, 2019

 

On Friday, the U.S. Energy Information Administration (EIA) reported working gas in storage as of Friday December 28, 2018 was 2,705 BCF. This was a decrease of 20 BCF from the previous week, much lower than the median market expectation of 50 BCF. Inventories are now 450 BCF lower than last year at this time, 560 below the 5-year average, and remain below the 5-year minimum value as it has since July 27. Storage levels are now 247 BCF lower than the previous 5-year low (for this time of year). 

This week, the NYMEX natural gas 12-month strip (Feb19 - Jan20) was down 9.3%, with the PJM West Hub Cal 2019 strip down 5.5%. Both decreases were driven by increasingly warm forecasts for the first half of January. Near-term prices for both electricity and gas have now fallen back to where they were prior to running up in November due to cold weather in that month. Natural gas prices further out in 2020 and beyond remain near all-time lows.

 

This past week's market information is provided as a courtesy to our customers and is not indicative of, nor should be relied upon, as representative of future transactions.

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