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Weekly Energy Market Update video for December 9, 2013.
The following is a summary of last week’s market activity and the market outlook.
NEW ENGLAND UPDATE: The January-March gas basis fell last week to around $11, as spot prices have been weak for both power and gas. The market is holding its breath to see the impact of the next cold snap. Spot price trends during this cold stretch could be a key driver of forward prices and risk premiums could shrink if spot prices don’t spike during the cold. Deep Panuke is producing gas again, but is not yet at its target of 300,000 Mcf/day.
Posted: December 09, 2013