U.S. natural gas exports established a new record in 2021, averaging 10.5 billion cubic feet per day (Bcf/d). This volume was driven by record LNG exports, including significant delivery growth to Asia and Europe. Also, growing volumes of U.S. LNG have been imported into Europe to build up storage inventories in Europe, which were low…
Electricity Headlines: Forward Power Price Forward power prices were down in all regions besides ERCOT and CAISO which saw increases of 3.3%-4.1% and 3.2%-3.5%, respectively. MISO prices fell 1.3%, and PJM fell between 0.8%-.0.9% The EIA reported that U.S. electricity customers averaged seven hours of power interruptions in 2021 Weather: Outlook for November 14-20: Colder…
Natural Gas Key Takeaways Prompt month NYMEX natural gas settled at $5.20/MMbtu on Monday, October 24, up $.24/MMbtu. After several very bearish sessions, near-month (November) NYMEX futures reversed direction on Monday, settling higher at the end of the day. Prompt-month NYMEX traded up $.16/MMbtu in early morning trading at $5.37/MMbtu. Calendar year 23-27 settled at…
Weather Outlook: Brrr! Frost and freeze conditions are forecast early this week across portions of the Plains, Mississippi Valley, Ohio Valley and Tennessee Valley. Mild to warm weather for the remainder of the week across the Midwest, East and South will allow some late-season cooling demand along the Gulf Coast and back into Texas, but…
Weather Forecast: Below Average Temperature Outlook Hurricane Ian directly hit Fort Myers and Sanibel Island, Florida, late last week, causing devastating damage to property and infrastructure. The storm knocked out power to more than 2 million Florida residents. Weather in the Midwest and East is mainly seasonal, with some frost warnings in the midwest this…
Weather: ABOVE-AVERAGE TEMPS IN PACIFIC NORTHWEST MEANS LESS HEAT DEMAND Pricing dropped almost 33% in September. Strong production, mild weather, and Hurricane Ian all combined to bring the Natural Gas Market down by almost $3.00 during September. Take advantage of this now. This drop is temporary. Winter weather is coming, which will mean higher demand…
EIA: More natural gas rigs are now operating in the United States than before the pandemic
The average price of electricity for residential consumers could reach $0.1524/kWh in 2023, the U.S. EIA forecast on Thursday in its latest Short Term Energy Outlook. That would represent about a 3.3% increase from this year — and EIA says prices are already 7.5% higher today than in 2021.