November 28, 2022

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Gas Markets

Market Watch

The December Nymex gas futures contract fell 31.2¢ Monday to $6.712 per million Btu on its last day of trading. Driven by the uncertain arrival of cold temperatures and rising dry gas production — volumes reached 101 Bcf/d last week — Monday’s session capped a two-day, 59.6¢ post-Thanksgiving decline that more than offset last Wednesday’s 52.9¢ rally.

The January 2023 contract was off 13.4¢ to $7.196. The 12-month strip fell 6.6¢ to $5.792, while the 2023 strip declined 3.9¢ to $5.730 (Futures contracts).

* * *

Westcoast Station 2 saw the most significant price move of the day, rising $2.31 to $3.55. This compared to benchmark Henry Hub cash prices that were down 44¢ at $5.99. In the Northeast, Boston-area Algonquin declined $1.02 to average $5.80. In West Texas, cash prices at the Permian's Waha Hub rose 43¢ to average $5.29. Meanwhile, Rockies leader Kern/Opal rose $1.43 to $11.40, SoCal Citygate advanced 82¢ to average $11.35 and Northwest Sumas gained $5.88 to average $17.57. In Canada, Alberta benchmark Aeco fell 23¢ to $4.73 (Daily cash prices).

* * *

The Canadian Association of Energy Contractors (CAOEC) said it expects to see strong upstream activity and jobs growth in the new year following an "exciting" 2022. The CAOEC said in its 2023 drilling forecast that an estimated 6,409 wells will be drilled in Canada next year, up nearly 15% from 2022. That translates into more work for oil and gas workers, who can expect to see about 15% more operating days and jobs in 2023 than this year, according to the organization. “Our members and their employees will remain critical as development continues for oil, LNG, natural gas, geothermal, helium, carbon capture utilization and storage (CCUS), in-situ hydrogen and mineral extraction from brines," CAOEC CEO Mark Scholz said.

Everett Wheeler, Washington

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
Westcoast Station 2El Paso BondadNW SumasEl Paso San JuanTranswestern Pipeline, San JuanAlgonquinIroquois Zone 2Tenn Gas Zone 6IroquoisDawn-20%0%20%40%60%80%100%120%140%160%180%200%Westcoast Station 2El Paso BondadNW SumasEl Paso San JuanTranswestern Pipeline, San JuanAlgonquinIroquois Zone 2Tenn Gas Zone 6IroquoisDawn
Note: Nov 28' 22 versus prior day price: points moving up (19), down (57).
Natural Gas Spot Prices
Trade Date: Nov. 28, 2022 / Flow Date: Nov. 29, 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 EasternTransmissionTranscoTranswesternPipeline Company,LLC0510152025303540455055Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmission Co.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipeline Company,LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Nov 28, '22
Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23Oct'23Nov'23($/MMBtu)4.555.566.57Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23Oct'23Nov'23CurrentLast Month
Henry Hub
Change from prior day, Nov 25 '22


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Nov 28 '22

Spot Cash Electricity Prices

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

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
198517461640144113471083961987804Nov 20Nov 21Nov 22Nov 23Nov 24Nov 25Nov 26Nov 27Nov 28(MMcf/d)0200400600800100012001400160018002000Nov 20Nov 21Nov 22Nov 23Nov 24Nov 25Nov 26Nov 27Nov 28NortheastSoutheastTexasUpper 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)
18 Nov 2219 Nov 2220 Nov 2221 Nov 2222 Nov 2223 Nov 2224 Nov 22700075008000850090009500100001050011000115001200018 Nov 2219 Nov 2220 Nov 2221 Nov 2222 Nov 2223 Nov 2224 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
19 Nov20 Nov21 Nov22 Nov23 Nov24 Nov25 Nov26 Nov27 Nov(MW)050010001500200025003000350040004500500055006000(MMcf/d)85090095010001050110011501200125013001350140019 Nov20 Nov21 Nov22 Nov23 Nov24 Nov25 Nov26 Nov27 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
18 Nov19 Nov20 Nov21 Nov22 Nov23 Nov24 Nov25 Nov26 Nov27 Nov(MW)01000200030004000500060007000800090001000011000(MMcf/d)12001300140015001600170018001900200021002200230018 Nov19 Nov20 Nov21 Nov22 Nov23 Nov24 Nov25 Nov26 Nov27 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
26022722020622321123026922November23November24November25November26November27November28November29November05010015020025022November23November24November25November26November27November28November29NovemberCDDHDDCDD 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 6°
Orlando 8°
Boston 10°
Washington 6°
Seattle -9°
Philadelphia 5°
Nashville 8°
Minneapolis 3°
Los Angeles -1°
Las Vegas 0°
Detroit 2°
Denver 4°
Austin -1°
Atlanta 4°
Southeast US
New York 6°
Orlando 8°
Boston 10°
Washington 6°
Seattle -9°
Philadelphia 5°
Nashville 8°
Minneapolis 3°
Los Angeles -1°
Las Vegas 0°
Detroit 2°
Denver 4°
Austin -1°
Atlanta 4°

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