September 1, 2022

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Gas Markets

Market Watch

October gas futures rose 13.5¢ to $9.262 per million Btu despite Thursday's undoubtedly bearish storage data. Traders essentially shrugged off the injection, which was 15 billion cubic feet above seasonal norms and 3 Bcf above analysts' consensus expectations. The 12-month strip rose 10.1¢ to $7.495; the 2023 calendar strip gained 8.1¢ to $6.694 (Futures contracts).

WTI October crude fell $2.94 to $86.61/bbl as traders continued to fret over the health of the global economy.
* * *

The Energy Information Administration reported a 61 Bcf storage build for the week ended Aug. 26, increasing net working gas inventories to 2,640 Bcf. The injection compares with a year-ago build of 21 Bcf and a five-year average injection of 46 Bcf, Inventories climbed to 338 Bcf, or 11.3%, below the five-year average. The deficit to last year fell to 228 Bcf, or 7.9%. Next week's data is expected to show a 52 Bcf injection versus a five-year average of 65 Bcf (Storage).

* * *

British Columbia's Westcoast Station 2 saw the most significant price move of the day, falling 38¢ to 18¢/MMBtu. Alberta benchmark Aeco rose 7¢ to $2.51. In the Northeast, Boston-area Algonquin declined 9¢ to average $8.35. In West Texas, cash prices at the Permian's Waha Hub rose 36¢ to average $8.17. Meanwhile, Rockies leader Kern/Opal rose 45¢ to $9.15, SoCal Citygate declined 26¢ to average $15.60 and Northwest Sumas gained 61¢ to average $9.33 (Daily cash prices).

* * *

California lawmakers are being asked to extend the life of the Diablo Canyon Nuclear Station to better ensure reliability in the state later this decade. Pacific Gas & Electric plans to shutter the plant's two units in 2024 and 2025. The proposal would give it the option of extending Diablo Canyon's units into 2029 and 2030. If regulators conclude that enough renewable resources come on line to ensure grid reliability, the 2.4 GW plant will not be extended. The effort comes as California Gov. Gavin Newsom on Wednesday declared a state of emergency to ensure grid reliability during a massive heat wave that's enveloped the state and the rest of the Western US. The proclamation will allow California power plants to generate additional power, and authorizes backup gas generation to ease stress on the grid during peak demand hours.

Tom Haywood, Houston and Everett Wheeler, Washington

Bidweek Prices

Bidweek Price Table for September 2022
Flow Dates: 9/1-9/30
Citygate Prices

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
SoCal BorderTranswes E of ThoreauTetco ELANW SumasStanfieldSonatTransco Station 65El Paso - South MainlineEmersonWestcoast Station 2-70%-60%-50%-40%-30%-20%-10%0%10%SoCal BorderTranswes E of ThoreauTetco ELANW SumasStanfieldSonatTransco Station 65El Paso - South MainlineEmersonWestcoast Station 2
Note: Sep 1' 22 versus prior day price: points moving up (53), down (21).
Natural Gas Spot Prices
Trade Date: Sep. 1, 2022 / Flow Date: Sep. 2, 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
Sep 1, '22
Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23($/MMBtu)4.555.566.577.588.599.510Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23CurrentLast Month
Henry Hub
Change from prior day, Aug 31 '22

Storage Report

North American Natural Gas Storage
Sep 1, '22
56%76%59%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 Sep 1 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Aug 31 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
309319284404504912656634685Aug 24Aug 25Aug 26Aug 27Aug 28Aug 29Aug 30Aug 31Sep 1(MMcf/d)0100200300400500600700800900100011001200Aug 24Aug 25Aug 26Aug 27Aug 28Aug 29Aug 30Aug 31Sep 1NortheastSoutheastTexasUpper 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)
25 Aug 2226 Aug 2227 Aug 2228 Aug 2229 Aug 2230 Aug 2231 Aug 2202000040000600008000010000012000025 Aug 2226 Aug 2227 Aug 2228 Aug 2229 Aug 2230 Aug 2231 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
23 Aug24 Aug25 Aug26 Aug27 Aug28 Aug29 Aug30 Aug31 Aug(MW)0100020003000400050006000700080009000(MMcf/d)13001400150016001700180019002000210023 Aug24 Aug25 Aug26 Aug27 Aug28 Aug29 Aug30 Aug31 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
22 Aug23 Aug24 Aug25 Aug26 Aug27 Aug28 Aug29 Aug30 Aug31 Aug(MW)02000400060008000100001200014000(MMcf/d)50010001500200025003000350022 Aug23 Aug24 Aug25 Aug26 Aug27 Aug28 Aug29 Aug30 Aug31 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
22 Aug23 Aug24 Aug25 Aug26 Aug27 Aug28 Aug29 Aug30 Aug31 Aug(MW)010002000300040005000600070008000(MMcf/d)900100011001200130014001500160022 Aug23 Aug24 Aug25 Aug26 Aug27 Aug28 Aug29 Aug30 Aug31 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
19318518720020820318718626 August27 August28 August29 August30 August31 August1September2September02040608010012014016018020022026 August27 August28 August29 August30 August31 August1September2SeptemberCDDHDDCDD 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 7°
Orlando 0°
Boston 7°
Washington 1°
Seattle 6°
Philadelphia 7°
Nashville -1°
Minneapolis 8°
Los Angeles 11°
Las Vegas 9°
Detroit 3°
Denver 5°
Austin -4°
Atlanta 0°
Southeast US
New York 7°
Orlando 0°
Boston 7°
Washington 1°
Seattle 6°
Philadelphia 7°
Nashville -1°
Minneapolis 8°
Los Angeles 11°
Las Vegas 9°
Detroit 3°
Denver 5°
Austin -4°
Atlanta 0°

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