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Energy Market Update: July 11, 2018

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This week, we’re taking a look at regional 2019 projected fixed price natural gas and 2019 Around-The-Clock electric energy prices.

Overall, prices in most regions are currently steady, but that doesn’t mean the markets aren’t doing interesting things. You’ll find our video analysis and a region-by-region summary below.

Tune in to the video below.

2019 Fixed Price Natural Gas by Region

NE Algonquin

Gas prices in NE remain constrained. The region depends on oil in the winter; oil prices look to be significantly higher than gas, so gas prices are likely to be driven up as a result.

NY Iroquois Z2, Transco Z6 (NY)

Same story as NE Algonquin - high oil prices affect gas prices. But prices overall haven’t changed much.

Socal Citygate

45-65 percent renewable penetration hasn’t kept natural gas prices from rising in this region. April saw a huge spike and prices remain elevated. Pipeline maintenance has been a concern, as well as natural gas moving to the Mexican markets and creating competition.

Transco Z6 (Non-NY) & TETCO M3 (PA/NJ)

Prices are elevated in this region. Above-average temperatures in the U.S., combined with relatively low storage levels, mean that demand from the power sector is high and prices are going to remain elevated.

NYMEX

Prices here are staying level.

Chicago Citygate

Prices are slightly elevated, mostly thanks to low storage levels (which continue to lag behind the five-year average).

PA/OH Columbia TCO

Prices are staying level in this system.

PA/OH Dominion S Pt

This system is getting de-bottlenecked; prices moved up in May and have remained slightly elevated since.

2019 ATC Electric Energy by Region

ATC NEPOOL

Prices are climbing here - high gas prices, as usual, contribute to high electricity prices.

ATC NYISO NYC

Gas prices have been flat, but electricity prices are climbing thanks to carbon-related proposals in New York State. 

NYISO WEST

Carbon-related New York state proposals are also having an effect here, so we are seeing rising prices.

ATC ERCOT

We are seeing prices here drop, partly thanks to the expanded influence of renewables (wind energy, in particular). 

ATC CAISO

Gas prices are high in this region, but the popularity of renewables is also causing prices to drop somewhat.

ATC PJM West Hub

Electricity is keeping pace with gas prices here, and remaining steady overall.

ATC North Illinois Hub

Prices remain low in this region. Access to coal and cheap natural gas prices are keeping things stable for now.

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Posted: July 11, 2018

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