Energy Market Update: May 1, 2017

What is the summer outlook for power prices? 

In this week's Energy Market Update, Tim Bigler — Direct Energy Business Energy Strategist — overviews the current summer weather forecast and what it could mean for 2017 regional power prices. 

Watch the video below to learn more. 

Summer Weather Forecast

Areas of drought can enhance summer heat waves, which, in turn, can drive up electricity demand. However, for the first time in recent years, California is heading into summer without an exceptional drought. Most areas of existing drought are currently found in the eastern two-thirds of the United States, but are not particularly strong. 

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The current summer forecast would rank as the fifth warmest on record since 1950. 

2017 Regional Power Prices

Certain markets are beginning to respond to the latest summer forecast information as well as natural gas and transmission constraints. 

Stay tuned to the Direct Energy Business Blog for the latest energy market news and information. 

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Tim Bigler, Senior Market Strategist at Direct Energy Business, is a 30+ year veteran of the U.S. natural gas, electric, and oil market.