October 24, 2022

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Gas Markets

Market Watch

November Henry Hub gas futures, which had fallen $1.782 in six sessions, reversed course on Monday and gained 24¢, or 5%, to $5.199 per million Btu. The rally was no surprise as the market was heavily oversold and appeared triggered by November gas holding strong support at $4.75. However, supply/demand fundamentals could be too bearish for prices to press much higher.

The 12-month strip rose 17¢ to $5.055; the 2023 calendar strip was up 14.2¢ to $5.03 (Futures contracts).

WTI December crude fell 47¢ to $84.58/bbl.

* * *

Transwestern East of Thoreau saw the most significant price move of the day, falling $2.41 to 45¢/MMBtu amid a swelling Permian Basin gas glut. Cash prices at the Permian's Waha Hub fell $2.37 to average 47¢/MMBtu. This compared to benchmark Henry Hub cash prices that were up 39¢ at $4.81. In the Northeast, Transco zone 6 New York went up 66¢ to average $4.01, while Boston-area Algonquin advanced 71¢ to average $4.50. Meanwhile, Rockies leader Kern/Opal rose $1.02 to $4.83, SoCal Citygate advanced $1.07 to average $5.21 and Northwest Sumas gained $1.08 to average $5.01. In Canada, Alberta benchmark Aeco fell 87¢ to 31¢/MMBtu (Daily cash prices).

* * *

Alberta Premier Danielle Smith has selected former rancher and chemical engineer Peter Guthrie as the province’s next energy minister. Guthrie, who has no direct experience in the oil and gas industry, was a staunch supporter of Smith in her rise to the premiership. Guthrie says his focus will be on drawing investment to the province and he acknowledged in a media interview that his new role will “absolutely” be a steep learning curve. But he also noted that his chemical-engineering training at the University of Alberta gives him some understanding of energy sector "processes." Nonetheless, the choice of Guthrie could also signal that Smith intends to directly lead Alberta energy policy. “[Smith] doesn’t want anybody in there with expertise who’s going to have anything to say that might question or contradict her,” said Lori Williams, an associate professor of political science at Calgary’s Mount Royal University.
Tom Haywood, Houston and Everett Wheeler, Washington

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
MalinStanfieldFlorida Zone 1Tres Palacios HubNW SumasWestcoast Station 2AECOEl Paso PermianWaha HubTranswes E of Thoreau-80%-60%-40%-20%0%20%40%MalinStanfieldFlorida Zone 1Tres Palacios HubNW SumasWestcoast Station 2AECOEl Paso PermianWaha HubTranswes E of Thoreau
Note: Oct 24' 22 versus prior day price: points moving up (71), down (6).
Natural Gas Spot Prices
Trade Date: Oct. 24, 2022 / Flow Date: Oct. 25, 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 GasTransmissionEastern GasTransmissionEl Paso NaturalGasKern River GasTransmission Co.Natural GasPipeline Co.NOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipeline Company,LLC010203040506070Algonquin GasTransmissionColumbia GasTransmissionEastern GasTransmissionEl Paso NaturalGasKern River GasTransmission Co.Natural GasPipeline Co.NOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipeline Company,LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Oct 24, '22
Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23Oct'23($/MMBtu)4.555.566.577.5Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23Oct'23CurrentLast Month
Henry Hub
Change from prior day, Oct 21 '22


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Oct 24 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Oct 21 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
411042104087398940204080425641914042Oct 16Oct 17Oct 18Oct 19Oct 20Oct 21Oct 22Oct 23Oct 24(MMcf/d)0500100015002000250030003500400045005000Oct 16Oct 17Oct 18Oct 19Oct 20Oct 21Oct 22Oct 23Oct 24NortheastSoutheastTexasUpper 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)
15 Oct 2216 Oct 2217 Oct 2218 Oct 2219 Oct 2220 Oct 2221 Oct 2280009000100001100012000130001400015000160001700018000190002000015 Oct 2216 Oct 2217 Oct 2218 Oct 2219 Oct 2220 Oct 2221 Oct 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
15 Oct16 Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23 Oct(MW)010002000300040005000600070008000(MMcf/d)900100011001200130014001500160017001800190015 Oct16 Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23 OctCAISO 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 Oct 3 Oct 4 Oct 5 Oct 6 Oct 7 Oct 8 Oct 9 Oct10 Oct(MW)01000200030004000500060007000(MMcf/d)500100015002000250030003500400045005000 2 Oct 3 Oct 4 Oct 5 Oct 6 Oct 7 Oct 8 Oct 9 Oct10 OctWind 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
14 Oct15 Oct16 Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23 Oct(MW)010002000300040005000600070008000900010000(MMcf/d)80010001200140016001800200014 Oct15 Oct16 Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23 OctPJM 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
2002101791239198988218 October19 October20 October21 October22 October23 October24 October25 October02040608010012014016018020022018 October19 October20 October21 October22 October23 October24 October25 OctoberCDDHDDCDD 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 -3°
Boston 3°
Washington 0°
Seattle 1°
Philadelphia 1°
Nashville 9°
Minneapolis 22°
Los Angeles -7°
Las Vegas -13°
Detroit 15°
Denver -2°
Austin 9°
Atlanta 0°
Southeast US
New York 2°
Orlando -3°
Boston 3°
Washington 0°
Seattle 1°
Philadelphia 1°
Nashville 9°
Minneapolis 22°
Los Angeles -7°
Las Vegas -13°
Detroit 15°
Denver -2°
Austin 9°
Atlanta 0°

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