Market Updates

Daily Market Update November 17, 2017

Early Morning Update

The Dec17 natural gas contract is trading up $0.02 at $3.07.  The Dec17 crude contract is up $0.86 at $56.00.

 

Summary

Yesterday the EIA reported its first draw of the season after storage levels were reduced by 18 Bcf.  The NG market saw very little movement after the report, with the prompt month drifting lower by $.027 to close the day at $3.053.  
On the power side, PJM proposed a change to the way ‘inflexible’ generators are paid.  This proposal cause the PJM power markets to move higher by $1 for 2019 and beyond.  Inflexible generators are those that have longer start-up times, inability to increase or decrease their output, minimum run-times and/or minimum down-time. The change in payment will likely increase the payments they receive and increase the cost of wholesale energy. 
On the weather side, forecasts still show cooler than normal temps along the east coast, and extremely cold temps in the pacific northwest and western Canada.

 

Market Update 111717 

Market Settles 111617

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