August 18, 2022

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Gas Markets

Market Watch

September gas futures took quite a ride Thursday as very bullish storage data set off a rally into the $9.60s per million Btu, followed by a sharp plunge into the $8.90s/MMBtu. By the end of trading, the September gas contract was down 5.6¢ to $9.188/MMBtu. The 12-month strip fell X¢ to $X. But in a sign that bulls remain in control, the 2023 calendar strip edged X¢ higher to $X (Futures contracts).

WTI September crude rose $2.39 to $90.50/bbl.

* * *

The Energy Information Administration reported an 18 Bcf storage build for the week ended Aug. 12, increasing net working gas inventories to 2,519 Bcf. The injection compares with a year-ago build of 46 Bcf and a five-year average injection of 47 Bcf, and was 16 Bcf below analysts' consensus expectations. Inventories climbed to 337 Bcf, or 12.7%, below the five-year average. The deficit to last year increased to 296 Bcf, or 10.5%. Next week's data is expected to show a 59 Bcf injection versus a five-year average of 46 Bcf (Storage).

* * *

As pipeline constraints worsen the gas glut in British Columbia, Westcoast Station 2 saw the most significant price move of the day, falling 32¢ to minus 39¢/MMBtu. Alberta benchmark Aeco fell $1.94 to average 60¢ on the day. This compared to benchmark Henry Hub cash prices that were down 9¢ at $9.42. In the Northeast, Transco zone 6 New York went up 7¢ to average $8.52, while Boston-area Algonquin advanced 36¢ to average $8.89. In West Texas, cash prices at the Permian's Waha Hub fell 20¢ to average $8.40. Meanwhile, Rockies leader Kern/Opal fell 21¢ to $8.53, SoCal Citygate declined $1.29 to average $10.78 and Northwest Sumas lost 25¢ to average $8.35 (Daily cash prices).

* * *

Price notice: Due to revisions by data providers, Energy Intelligence is revising its daily pricing as follows:

For trade day Aug. 9, 2022 at TGT Zone 1 the revised pricing is: Low: $7.54; High: $7.64; Average: $7.62; Volume: 106,200 and Deals: 12.

For trade day Aug. 16, 2022 at SoCal Border the revised pricing is: Low: $9.90; High: $12.25; Average: $11.23; Volume: 220,014 and Deals: 52.

Tom Haywood, Houston and Everett Wheeler, Washington

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
EmersonAlgonquinTenn Gas Zone 6Millennium Pipeline Co., East ReceiptsTetco M3Kern River DeliveredEl Paso - South MainlineSoCal CitygateAECOWestcoast Station 2-400%-350%-300%-250%-200%-150%-100%-50%0%50%EmersonAlgonquinTenn Gas Zone 6Millennium Pipeline Co., East ReceiptsTetco M3Kern River DeliveredEl Paso - South MainlineSoCal CitygateAECOWestcoast Station 2
Note: Aug 18' 22 versus prior day price: points moving up (19), down (60).
Natural Gas Spot Prices
Trade Date: Aug. 18, 2022 / Flow Date: Aug. 19, 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.NorthwestPipelineNOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC051015202530354045505560Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmission Co.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Aug 18, '22
Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23($/MMBtu)4.555.566.577.588.599.5Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23CurrentLast Month
Henry Hub
Change from prior day, Aug 17 '22

Storage Report

North American Natural Gas Storage
Aug 18, '22
53%71%56%Lower 48CanadaLower 48 & Canada(BCF)050010001500200025003000350040004500500055006000Lower 48CanadaLower 48 & Canada
Note: The value shown in the bars represents the percentage full.
North American Weekly Gas Storage
Sources: US-EIA. Canada-RBN Energy. Values in Bcf unless otherwise noted.


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Aug 18 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Aug 17 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
129866272277287305352268Aug 10Aug 11Aug 12Aug 13Aug 14Aug 15Aug 16Aug 17Aug 18(MMcf/d)0100200300400500600700800Aug 10Aug 11Aug 12Aug 13Aug 14Aug 15Aug 16Aug 17Aug 18NortheastSoutheastTexasUpper 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)
11 Aug 2212 Aug 2213 Aug 2214 Aug 2215 Aug 2216 Aug 2217 Aug 228000100001200014000160001800020000220002400011 Aug 2212 Aug 2213 Aug 2214 Aug 2215 Aug 2216 Aug 2217 Aug 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
9 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug(MW)010002000300040005000600070008000(MMcf/d)14001500160017001800190020002100 9 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 AugCAISO 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
8 Aug 9 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug(MW)010002000300040005000600070008000900010000110001200013000(MMcf/d)50010001500200025003000350040004500 8 Aug 9 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 AugWind 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
8 Aug 9 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 Aug(MW)01000200030004000500060007000(MMcf/d)800900100011001200130014001500160017001800 8 Aug 9 Aug10 Aug11 Aug12 Aug13 Aug14 Aug15 Aug16 Aug17 AugPJM 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
18115115716215516517217212 August13 August14 August15 August16 August17 August18 August19 August02040608010012014016018020012 August13 August14 August15 August16 August17 August18 August19 AugustCDDHDDCDD 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 -2°
Orlando 1°
Boston -2°
Washington -7°
Seattle 10°
Philadelphia -4°
Nashville -3°
Minneapolis 4°
Los Angeles -2°
Las Vegas -2°
Detroit -1°
Denver -1°
Austin -1°
Atlanta -8°
Southeast US
New York -2°
Orlando 1°
Boston -2°
Washington -7°
Seattle 10°
Philadelphia -4°
Nashville -3°
Minneapolis 4°
Los Angeles -2°
Las Vegas -2°
Detroit -1°
Denver -1°
Austin -1°
Atlanta -8°

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