Natural Gas Prices are $1.00 Lower Than Last Year
A surplus of natural gas in storage and low demand will help facility operating budgets across the US. Natural gas is trading up five cents today on the NYMEX market. It is $3.167 per mmbtu at 9:45 AM.
Natural Gas Futures Prices
Prices are down about a quarter for each future month when compared to monthly futures two weeks ago.
CME-NYMEX natural gas futures market intraday prices for December 27, 2011 at 9:45 AM.
(Prices are USD per mmbtu)
Jan. 2012 - $3.167 +$0.053
Feb. 2012- $3.209 +$0.062
Mar. 2012 - $3.239 +$0.055
Apr. 2012- $3.300 +$0.051
May. 2012- $3.351 +$0.049
Jun. 2012- $3.396 +$0.045
PMC 30-Day Natural Gas Futures Chart
Natural Gas Drilling Exploration Drops by 36 Rigs
As of December 22, there were 16 fewer natural gas exploration rigs at work in the US compared to the previous week. In total, there are 802 natural gas drilling rigs in action, which is 129 less than last year at this time. (Data courtesy of Baker Hughes)
Natural Gas Storage Rate 387 BCF Above Five-Year Average
Working gas in storage was 3,629 Bcf as of Friday, December 16, 2011, according to EIA estimates. This represents a net decline of 100 Bcf from the previous week. Stocks were 235 Bcf higher than last year at this time and 387 Bcf above the 5-year average of 3,242 Bcf. In the East Region, stocks were 157 Bcf above the 5-year average following net withdrawals of 63 Bcf.
Electricity Prices Remain Stable
The intraday price on the CME/NYMEX market is $100.37, up $0.67 at 9:45 AM.
OPEC Basket Data
Interesting Links and Resources
(Click on Links to View)
Connecticut Attorney General Asks PUC to Review NU-NStar Merger
Due to the high number of service outages over the past year, Attorney General Jepsen is again requesting the states utility commissioners to take another look at the mega-merger of NU and NSTAR.
Massachusetts Governor Hits NStar on Outages
Like Connecticut, Massachusetts is requesting its Public Utility Commission to demand more details regarding NSTAR's future storm response plans post merger.
Energy Prices and Other Commodities Helping to Tame Inflation
Natural gas is not the only commodity that is down compared to last year. With tighter lending in Brazil, China and India many more commodities may decline as demand and growth slow.
US Settles With Exelon Over Its Constellation Energy Merger Deal
While the NU-NSTAR merger is teetering on the brink, the other mega-merger deal between Exelon and Constellation Energy is moving ahead with the US Department of Justice's approval to proceed. Maryland's energy department also approved the deal. The $7.4 Billion merger would create the largest US utility owner and power generator.
Union Opposes Transmission Line For Quebec Power
In a classic job-protection effort, the IBEW is opposing a new transmission line that would bring Quebec Hydro Power to New York City. The Blackstone-financed "Champlain Hudson Power Express" transmission line could save NYC consumers over $500-million when completed.
Click on the links below to view the National Weather Service forecasts.
6-10 Day forecast
8-14 Day forecast
NOAA Forecast- 30-Days
El Nino-La Nina (Pacific Ocean Temperature Levels)
Arctic Oscillation (Arctic Pressure Patterns)
Jet Stream Forecast (SFSU)
Written by Martin Linskey; Energy Charts developed by Charles Myers.
Disclaimer: This information is provided for the use of our customers and potential customers. Power Management Company assumes no
responsibility or liability for the accuracy or completeness of pricing or information in this document. Historical data was obtained from
sources that we believe to be reliable, but we do not guarantee its accuracy or completeness. It is not intended to provide advice or recommendation. Views are subject to change without notice.