Weather: 6-10 DAY AND 8-14 DAY OUTLOOK
An active pattern continues this week as weather systems track across the U.S. with comfortable highs of the 60s to 80s for weak, creating a low demand for natural gas and little need for air conditioning across the Midwest and East Coast.
Energy Rates: Attention FirstEnergy Customers
Residential FirstEnergy bills should be checked to ensure you are not on the utility rate. Starting with your June read date, the rate for electricity supply will more than double to 12.2 cents per kWh.
Talk to your TPI Rep to help you find a way out of this mess.
THE COMING EL NINO
As La Nina switches to El Nino, you can expect warmer, wetter weather starting this month and increasing in intensity as the summer rolls on. However, it may be good news that El Nino typically results in milder, drier winters, though it will be tough to beat this past winter for mild temps.
The increase in electricity demand later this summer brought on by El Nino will affect the market and be aided by reduced production through the summer.
Pricing has been comparatively great for our clients compared to last year, with the NYMEX below $2.50, but natural gas producers have a minimum they need the market at to make a profit, and we are beyond or approaching that mark. N.G. producers have shut down 27 dry gas rigs in the last two weeks
El Niño is a climate pattern that describes the unusual warming of surface waters in the eastern tropical Pacific Ocean. El Niño is the “warm phase” of a more significant phenomenon called the El Niño-Southern Oscillation (ENSO). La Niña, the “cool phase” of ENSO, is a pattern that describes the unusual cooling of the region’s surface waters. El Niño and La Niña are considered the ocean part of ENS.
PROJECTED NATURAL GAS PRODUCTION
PJM BGE HUB FORWARD POWER PRICING
PJM AD HUB FORWARD POWER PRICING
