November 10, 2022

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Gas Markets

Market Watch

December gas futures mounted a strong rebound Wednesday, rising 37.4¢ to $6.239 per million Btu. The contract had become heavily oversold, having lost $1.079 in the previous three sessions and ignoring a cold wave that that will kick heating loads into gear by this weekend. The 12-month strip rose 25.2¢ to $5.398; the 2023 calendar strip was up 23.5¢ to $5.347 (Futures contracts).

WTI December crude rose 64¢ to $86.47/MMBtu, snapping a three-session $6.70 decline.

* * *

The US Energy Information Administration reported a 79 Bcf storage build for the week ended Nov. 4, increasing net working gas inventories to 3,580 Bcf. The injection compares with a five-year average of 20 Bcf and a year-ago build of 15 Bcf. The deficit to the five-year average fell to 76 Bcf, or 2.1%. The deficit to last year dropped to 37 Bcf, or 1.0%. Next week's data is expected to show an 64 Bcf injection versus a five-year average withdrawal of 5 Bcf (Storage).

* * *

In West Texas, Transwestern East of Thoreau saw the most significant price move of the day, rising $1.90 to $3.76. The Permian's Waha Hub rose $1.27 to average $3.41. This compared to benchmark Henry Hub cash prices that were up $1.17 at $4.59. In the Northeast, Transco zone 6 New York went up $1.56 to average $3.81, while Boston-area Algonquin advanced $1.89 to average $4.21. Meanwhile, Rockies leader Kern/Opal rose 18¢ to $7.91, SoCal Citygate declined 34¢ to average $8.07 and Northwest Sumas lost 3¢ to average $8.01. In Canada, Alberta benchmark Aeco rose 13¢ to $3.84 (Daily cash prices).

* * *

A federal appeals court this week rejected a claim by a group of Roman Catholic nuns in Lancaster County, Pennsylvania, that they should be compensated for having a 42-inch gas pipeline laid through their property in “gross violation of their deeply held religious convictions.” Members of The Adorers of the Blood of Christ had previously sued and lost a legal battle to keep William’s from constructing the 183-mile Atlantic Sunrise pipeline across their land — even building an open-air chapel on the right of way in an effort to stop it. The 1.7 billion cubic foot per day pipeline in western Pennsylvania began full operations in October 2018.

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

For trade day Oct. 28, 2022 at Westcoast Station 2, the revised pricing is: Low: $0.07; High: $1.47; Average: $0.81; Volume: 128,429 and Deals: 37.

For trade day Nov. 1, 2022 at Florida Zone 3, the revised pricing is:

Low: $4.50; High: $4.70; Average: $4.56; Volume: 91,700 and Deals: 20.

For trade day Nov. 2, 2022 at Waha Hub, the revised pricing is:

Low: $1.90; High: $2.18; Average: $2.07; Volume: 88,000 and Deals: 19.

For trade day Nov. 3, 2022 at El Paso Permian, the revised pricing is: Low: $1.65; High: $2.40; Average: $1.81; Volume: 217,400 and Deals: 30.

For trade day Nov. 4, 2022 at Transco Z6 NY, the revised pricing is: Low: $0.50; High: $0.95; Average: $0.76; Volume: 38,900 and Deals: 9.

For trade day Nov. 9, 2022 at Tetco M3, the revised pricing is: Low: $2.00; High: $2.50; Average: $2.12; Volume: 103,100 and Deals: 23.

Tom Haywood, Houston

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
Transwes E of ThoreauAlgonquinTransco Z6 - NYTenn Gas Zone 6Transco Zone 5 NW SumasSoCal CitygateNW RockiesMillennium Pipeline Co., East Receipts-10%0%10%20%30%40%50%60%70%80%90%100%110%Transwes E of ThoreauAlgonquinTransco Z6 - NYTenn Gas Zone 6Transco Zone 5 NW SumasSoCal CitygateNW RockiesMillennium Pipeline Co., East Receipts
Note: Nov 10' 22 versus prior day price: points moving up (72), down (4).
Natural Gas Spot Prices
Trade Date: Nov. 10, 2022 / Flow Dates: Nov. 11-14, 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 Natural GasKern River GasTransmission Co.Natural GasPipeline Co.Northwest PipelineNOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipeline Company,LLC051015202530354045505560Algonquin GasTransmissionColumbia GasTransmissionEl Paso Natural GasKern River GasTransmission Co.Natural GasPipeline Co.Northwest PipelineNOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipeline Company,LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Nov 10, '22
Dec '22Jan '23Feb '23Mar '23Apr '23May '23Jun '23Jul '23Aug '23Sep '23Oct '23Nov '23($/MMBtu)55.566.57Dec '22Jan '23Feb '23Mar '23Apr '23May '23Jun '23Jul '23Aug '23Sep '23Oct '23Nov '23CurrentLast Month
Henry Hub
Change from prior day, Nov 9 '22

Storage Report

North American Natural Gas Storage
Nov 10, '22
76%95%78%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 Nov 10 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Nov 8 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
363438113467359235563493337031502928Nov 2Nov 3Nov 4Nov 5Nov 6Nov 7Nov 8Nov 9Nov 10(MMcf/d)050010001500200025003000350040004500Nov 2Nov 3Nov 4Nov 5Nov 6Nov 7Nov 8Nov 9Nov 10NortheastSoutheastTexasUpper 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)
3 Nov 22 4 Nov 22 5 Nov 22 6 Nov 22 7 Nov 22 8 Nov 22 9 Nov 2250001000015000200002500030000350004000045000 3 Nov 22 4 Nov 22 5 Nov 22 6 Nov 22 7 Nov 22 8 Nov 22 9 Nov 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
1 Nov 2 Nov 3 Nov 4 Nov 5 Nov 6 Nov 7 Nov 8 Nov 9 Nov(MW)01000200030004000500060007000(MMcf/d)90010001100120013001400150016001700 1 Nov 2 Nov 3 Nov 4 Nov 5 Nov 6 Nov 7 Nov 8 Nov 9 NovCAISO 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
31 Oct 1 Nov 2 Nov 3 Nov 4 Nov 5 Nov 6 Nov 7 Nov 8 Nov 9 Nov(MW)01000200030004000500060007000800090001000011000(MMcf/d)800100012001400160018002000220031 Oct 1 Nov 2 Nov 3 Nov 4 Nov 5 Nov 6 Nov 7 Nov 8 Nov 9 NovPJM 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
1241111221371601841491534 November5 November6 November7 November8 November9 November10 November11 November0204060801001201401601802002204 November5 November6 November7 November8 November9 November10 November11 NovemberCDDHDDCDD 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 8°
Orlando 0°
Boston 9°
Washington 8°
Seattle -5°
Philadelphia 7°
Nashville 11°
Minneapolis 22°
Los Angeles -4°
Las Vegas -7°
Detroit 18°
Denver -1°
Austin 12°
Atlanta 4°
Southeast US
New York 8°
Orlando 0°
Boston 9°
Washington 8°
Seattle -5°
Philadelphia 7°
Nashville 11°
Minneapolis 22°
Los Angeles -4°
Las Vegas -7°
Detroit 18°
Denver -1°
Austin 12°
Atlanta 4°

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