July 12, 2022

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Gas Markets

Market Watch

August gas futures gave back most of Monday's gains falling 26.3¢ Tuesday to $6.163 per million Btu. Just as Monday's gains were predicated on hot forecasts, the prompt month backed down Tuesday as those forecasts moderated, though power burns are sure to increase later this month. The 12-month strip fell 21.1¢ to $5.511; the 2023 calendar strip was off 12.2¢ to $4.925 (Futures contracts).

WTI August crude plunged $8.25 to $95.84/bbl as fears mount over demand destruction stemming from new lockdowns in China, rising inflation and a strengthening dollar.

* * *

British Columbia's Westcoast Station 2 saw the most significant price move of the day, rising 59¢ to $3.19. Alberta benchmark Aeco rose 22¢ to $3.25. This compared to benchmark Henry Hub cash prices that were up 3¢ at $6.80. In the Northeast, Transco zone 6 New York went down 15¢ to average $6.17, while Boston-area Algonquin declined 1¢ to average $6.32. In West Texas, cash prices at the Permian's Waha Hub rose 7¢ to average $6.42. Meanwhile, Rockies leader Kern/Opal rose 6¢ to $6.51, SoCal Citygate advanced 28¢ to average $7.69 and Northwest Sumas gained 64¢ to average $3.90 (Daily gas prices).

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Marathon Petroleum’s Trans-Foreland Pipeline unit is asking the Federal Energy Regulatory Commission for more time to convert the Kenai LNG export plant in Alaska into an import terminal. The filing asks FERC to extend the deadline for the conversion until December 2025. Trans-Foreland, which has yet to make a final investment decision on the project due to “uncertainty and volatility in the global LNG market,” now has until December 2022 to complete it. The facility would import up to four full LNG cargoes a year supplementing declining domestic production. The Kenai LNG export plant entered service in 1969 and has not exported LNG since 2015.

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California lawmakers and regulators might have a hard time backing natural gas out of home use as only 8% of Golden State residences are all-electric and the vast majority of the rest use gas fuel in some capacity. The Energy Information Administration reports that in 2020, 72% of California households used natural gas for space heating, 79% for water heating, and 73% for cooking. Nonetheless, gas bans on new construction are being adopted in municipalities across the state. Almost two-thirds of US households used electricity and one other type of energy in 2020. The most common fuel combination was natural gas and electricity, which were used exclusively in 55% of US households.

Tom Haywood, Houston and Everett Wheeler, Washington

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
Westcoast Station 2NW SumasEl Paso - South MainlineFlorida Zone 3AECOIroquoisTennessee Zone 4 313 poolTennessee Zone 4 200-legIroquois Zone 2Sonat-15%-10%-5%0%5%10%15%20%25%Westcoast Station 2NW SumasEl Paso - South MainlineFlorida Zone 3AECOIroquoisTennessee Zone 4 313 poolTennessee Zone 4 200-legIroquois Zone 2Sonat
Note: Jul 12' 22 versus prior day price: points moving up (37), down (36).
Natural Gas Spot Prices
Trade Date: Jul. 12, 2022 / Flow Date: Jul. 13, 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, LLCTrunkline GasCo.051015202530354045505560Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmission Co.Natural GasPipeline Co.NOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLCTrunkline GasCo.
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Jul 12, '22
Aug'22Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23($/MMBtu)4.555.566.577.5Aug'22Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23CurrentLast Month
Henry Hub
Change from prior day, Jul 11 '22


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Jul 12 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Jul 11 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
338301259215116295239118162Jul 4Jul 5Jul 6Jul 7Jul 8Jul 9Jul 10Jul 11Jul 12(MMcf/d)0200400600800100012001400Jul 4Jul 5Jul 6Jul 7Jul 8Jul 9Jul 10Jul 11Jul 12NortheastSoutheastTexasUpper 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)
5 Jul 22 6 Jul 22 7 Jul 22 8 Jul 22 9 Jul 2210 Jul 2211 Jul 2250001000015000200002500030000350004000045000 5 Jul 22 6 Jul 22 7 Jul 22 8 Jul 22 9 Jul 2210 Jul 2211 Jul 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
3 Jul 4 Jul 5 Jul 6 Jul 7 Jul 8 Jul 9 Jul10 Jul11 Jul(MW)010002000300040005000600070008000900010000(MMcf/d)16001700180019002000210022002300 3 Jul 4 Jul 5 Jul 6 Jul 7 Jul 8 Jul 9 Jul10 Jul11 JulCAISO 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
2 Jul 3 Jul 4 Jul 5 Jul 6 Jul 7 Jul 8 Jul 9 Jul10 Jul11 Jul(MW)020004000600080001000012000140001600018000(MMcf/d)5001000150020002500300035004000 2 Jul 3 Jul 4 Jul 5 Jul 6 Jul 7 Jul 8 Jul 9 Jul10 Jul11 JulWind 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
2 Jul 3 Jul 4 Jul 5 Jul 6 Jul 7 Jul 8 Jul 9 Jul10 Jul11 Jul(MW)010002000300040005000600070008000(MMcf/d)9001000110012001300140015001600 2 Jul 3 Jul 4 Jul 5 Jul 6 Jul 7 Jul 8 Jul 9 Jul10 Jul11 JulPJM 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
2041902051851871812082086 July7 July8 July9 July10 July11 July12 July13 July0204060801001201401601802002206 July7 July8 July9 July10 July11 July12 July13 JulyCDDHDDCDD 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 3°
Boston 5°
Washington -2°
Seattle 4°
Philadelphia -2°
Nashville 2°
Minneapolis -2°
Los Angeles -8°
Las Vegas 3°
Detroit 5°
Denver -1°
Austin 5°
Atlanta -3°
Southeast US
New York 1°
Orlando 3°
Boston 5°
Washington -2°
Seattle 4°
Philadelphia -2°
Nashville 2°
Minneapolis -2°
Los Angeles -8°
Las Vegas 3°
Detroit 5°
Denver -1°
Austin 5°
Atlanta -3°

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