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  Weekly Market Update
December 22, 2017
  Natural Gas

January 2017 futures made a brief rally on Monday of over 13 cents before falling again, now into the low $2.60's.

Yesterday the EIA announced a larger than expected 182 Bcf withdrawal from storage. This gave the market a short boost before finishing down 4 cents on the day.

Real time power prices were cheap this week causing the 30 day average to fall. The 30 day average price of power is now $23.90/MWh.

Electricity futures continued to fall this week to record lows. Both the 12 and 24 month strips are now below $29/MWh.
  12 & 24 Month NYMEX Strip
  12 & 24 Month Zone A Power Strip
  This document is intended for indicative purposes only. All information contained within this report is acquired from third party sources and EnergyMark makes no representations or warranties, express or implied, as to the accuracy of the information provided herein. EnergyMark is not liable for any actions or decisions made in reliance on the information provided in the report.
If three natural gas-fueled power plants don’t get built by 2023, two years after Indian Point is set to shut down, the Lower Hudson Valley will need to get electricity from somewhere else, according to the agency that manages the state’s power grid.
Environmental advocates say decreasing demand will eliminate the need for those power plants.
However, the Lower Hudson Valley will need as much as 600 additional megawatts by 2027, if three planned projects are not completed, according to a report issued last week by the New York Independent System Operator (NYISO). Those projects are not without opponents or obstacles. 
In August, the New York State Department of Environmental Conservation denied permits for a pipeline that would supply natural gas to the CPV plant, though that decision was overturned two weeks later by the Federal Energy Regulatory Commission.

 Weather Watch  
  NOAA 8-14 Day Outlook
  NOAA 30 Day Outlook