June 27, 2022

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Gas Markets

Market Watch

July gas futures regained some footing Monday, rising 28.1¢ or 4.5% to settle at $6.501 per million Btu. The contract initially sank as low as $6.01 in response to ongoing gas production gains and the continued loss of demand from the Freeport LNG terminal outage. But an afternoon buying spree sent the contract as high as $6.538. The 12-month strip rose 21.6¢ to $6.083; the 2023 strip was up 9.1¢ to $5.211 (Futures contracts).
WTI August crude rose $1.95 to $109.57/bbl.

* * *

SoCal Citygate saw the most significant price cash move of the day, rising 1.38 to $7.93. This compared to benchmark Henry Hub cash prices that were up 27¢ at $6.09. In the Northeast, Transco zone 6 New York averaged $5.66, while Boston-area Algonquin advanced 21¢ to average $6.11. In West Texas, cash prices at the Permian's Waha Hub fell 6¢ to average $5.51. Meanwhile, Rockies leader Kern/Opal rose 16¢ to $5.95, and Northwest Sumas lost $1.06 to average $4.55. In Canada, Alberta benchmark Aeco fell 13¢ to $4.28 (Cash prices).


* * *

Mountain Valley Pipeline’s owner is seeking a four-year extension to complete the project, which is already years behind schedule and billions of dollars over budget. Equitrans Midstream asked the Federal Energy Regulatory Commission to approve an Oct. 13, 2026, startup for the 303-mile, 2 billion cubic foot per day line across parts of West Virginia and Virginia, citing a host of federal permits tied up in litigation. As recently as May, Equitrans was targeting a late-2023 opening of the line, which is 94% complete, and spokesman Natalie Cox told Energy Intelligence on Monday that the company still hopes to meet that target. “Despite a continual barrage of attacks from Project opponents, Mountain Valley remains committed to completing this critical infrastructure project,” the company told FERC. “Granting this extension of time will enable [us] to continue to work cooperatively with all affected stakeholders and permit agencies to complete construction.” Marcellus Shale producers are counting on the pipeline to provide a major takeaway option as Appalachian gas output continues to grow.

Everett Wheeler, Washington and Mark Davidson, Houston

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
SoCal CitygatePG&E SouthSoCal BorderEl Paso - South MainlineKern River DeliveredEmpressTetco M3Florida Zone 3Florida Zone 2NW Sumas-20%-15%-10%-5%0%5%10%15%20%SoCal CitygatePG&E SouthSoCal BorderEl Paso - South MainlineKern River DeliveredEmpressTetco M3Florida Zone 3Florida Zone 2NW Sumas
Note: Jun 27' 22 versus prior day price: points moving up (48), down (28).
Natural Gas Spot Prices
Trade Date: Jun. 27, 2022 / Flow Date: Jun. 28, 2022
The above figures refer to volume-weighted averages for gas deals done today for tomorrow's flow, or weekend delivery on Friday trading, at each particular spot. Change reflects the difference from the previous published price. Composites reflect volume-weighted average for all deals done in the regional grouping. Daily Composite Spot Wellhead is a volume-weighted average for all producing area pipelines less gathering and processing costs. All prices are in $/MMBtu.

Critical Notices

Sort:
Count of Critical Notices in Last 7 Days
Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmission Co.Natural GasPipeline Co.NOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC05101520253035404550Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmission Co.Natural GasPipeline Co.NOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Jun 27, '22
Jul'22Aug'22Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23($/MMBtu)4.555.566.577.588.59Jul'22Aug'22Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23CurrentLast Month
Henry Hub
Change from prior day, Jun 24 '22


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Jun 27 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Jun 24 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
8928035835494944431099964924Jun 19Jun 20Jun 21Jun 22Jun 23Jun 24Jun 25Jun 26Jun 27(MMcf/d)02004006008001000120014001600Jun 19Jun 20Jun 21Jun 22Jun 23Jun 24Jun 25Jun 26Jun 27NortheastSoutheastTexasUpper MidwestWestTotalYear-Ago
Note: Source: US Nuclear Regulatory Commission's Daily Power Reactor Status Report and Energy Intelligence,Historical data available via EI New Energy Data

Gas Prices, Power Prices and Spark Spreads for Major Hubs

Marginal Heat Rates (Btu/kWh)
20 Jun 2221 Jun 2222 Jun 2223 Jun 2224 Jun 2225 Jun 2226 Jun 222000400060008000100001200014000160001800020000220002400020 Jun 2221 Jun 2222 Jun 2223 Jun 2224 Jun 2225 Jun 2226 Jun 22Malin/COBSocal/Palo VerdeAlgonquin/NE PoolHouston SC - Katy/ErcotStanfield/Mid-Col.TZ6 NNY/PJM W
Note: Indicates the threshold heat rate for each gas/power pair. Below the MHR, gas-fired generation may be more cost effective vs. purchased power above. For holidays and weekends, the previous business day's values are displayed.
Gas, Power Prices & Spark Spreads for Generators Major Hubs

Renewable Energy

Gas Equivalent of Caiso Wind and Solar Output
18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25 Jun26 Jun(MW)0100020003000400050006000700080009000(MMcf/d)11001200130014001500160017001800190020002100220018 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25 Jun26 JunCAISO Solar PVCAISO Solar ThermalCAISO WindTOTAL gas equivalent (MMcf/d)TOTAL gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data



Gas Equivalent of Ercot Wind Output
17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25 Jun26 Jun(MW)0200040006000800010000120001400016000(MMcf/d)15002000250030003500400017 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25 Jun26 JunWind Generation (MW)Gas equivalent (MMcf/d)Gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data



Gas Equivalent of PJM Renewable Output
17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25 Jun26 Jun(MW)0100020003000400050006000700080009000(MMcf/d)80090010001100120013001400150016001700180019002000210017 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25 Jun26 JunPJM SolarPJM HydroPJM WindPJM Other RenewablesTOTAL gas equivalent (MMcf/d)TOTAL gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data




Weather

Today's Short-Term Weather Forecast

Atlanta
Austin
Denver
Detroit
Las Vegas
Los Angeles
Minneapolis
Nashville
Philadelphia
Seattle
Washington
Boston
Orlando
New York
Leaflet | Weather from OpenWeatherMap
To change the layers on the map, click the icon to the left and choose the layer you want to display.
Layers available on weather map:
  • Temperature:
    Current ground temperature(in Fahrenheit).
  • Clouds:
    Displays the positions of the current cloud cover.
  • Precipitation:
    Displays current amount of falling water in liquid, sleet or snow form (in inches).
  • Wind speed:
    Displays the current wind speed(in knots).
  • Sea Level Pressure:
    Displays the current pressure at sea level(in millibars).
  • Snow:
    Displays the daily snow fall(in inches).
  • Rain:
    Displays today’s amount of rain fall(in inches).

Degree Days

Degree Days
16216916417818419316914721 June22 June23 June24 June25 June26 June27 June28 June02040608010012014016018020021 June22 June23 June24 June25 June26 June27 June28 JuneCDDHDDCDD AvgHDD Avg
Note: Cooling Degree Days is the sum of temperature variances above 65 degrees for 14 cities: Atlanta, Georgia, Austin, Texas, Denver, Colorado, Detroit, Michigan, Las Vegas, Nevada, Los Angeles, California, Minneapolis, Minnesota, Nashville, Tenn, Philadelphia, Pennsylvania, Seattle, Washington, Washington, DC, Boston, Massachusetts, Orlando, Florida, New York, New York. Heating Degree Days is the sum of temperature variances below 65 degrees for those same 14 cities.
Degree Days


Regional °F Degree Day Differentials
Values listed are the previous days' difference from the 5-year degree day average.

Ex: A value of -4° indicates previous days' degree days were 4 degrees below the 5-year average.

Northeast US
New York 1°
Orlando -2°
Boston 0°
Washington -3°
Seattle 11°
Philadelphia 1°
Nashville -2°
Minneapolis -1°
Los Angeles 7°
Las Vegas 0°
Detroit -6°
Denver -3°
Austin 5°
Atlanta 1°
Southeast US
New York 1°
Orlando -2°
Boston 0°
Washington -3°
Seattle 11°
Philadelphia 1°
Nashville -2°
Minneapolis -1°
Los Angeles 7°
Las Vegas 0°
Detroit -6°
Denver -3°
Austin 5°
Atlanta 1°

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