Energy Update - 04/27/2020  (Plain Text Version)

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In this issue:
Editor's Note
•  Near Term Prices Rise
•  Washington, D.C. Area Cooling/Heating Degree Days


Editor's Note

Near Term Prices Rise

Weekly review for April 19 - April 25, 2020

On Thursday, the U.S. Energy Information Administration (EIA) reported that working gas in storage as of Friday April 17, 2020 was 2,140 BCF.  This was an increase of 43 BCF from the previous week. Inventories are now 827 BCF higher than last year at this time, 364 BCF above the 5-year average.
After a pause last week, near-term prices continued their rise this week with the NYMEX natural gas 12-month strip (Apr20-Mar21) up 5.1% and PJM Western Hub 12-month strip up 3.1%.  Starting this coming winter both power and gas forward curves are backwardated, with lower prices, still relatively close to their 5 year lows, in 2022-2024.
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.