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June Natural Gas Futures Surge as Forecasts Suggest a Tighter Supply, Demand Balance; Cash Mixed 

June Natural Gas Futures Surge as Forecasts Suggest a Tighter Supply, Demand Balance; Cash Mixed 

June Nymex natural gas futures rally resumed after a brief and modest reversal lower Tuesday as the market looked beyond bearish near-term fundamentals to longer-range support. At A Glance: Futures gain 9.1 cents Small storage build expected California cash tumbles The front-month contract settled Wednesday at $2.842/MMBtu, up 9.1 cents day/day. NGI’s daily spot price…

May 22, 2024
Natural Gas Futures Back to Rally Mode — MidDay Market Snapshot

Natural Gas Futures Back to Rally Mode — MidDay Market Snapshot

Natural gas futures were returning to rally mode through midday trading Wednesday, shaking off a temporary stumble in the previous session as attention shifted back to summer power burns and declines in excess storage. Here’s the latest: June Nymex futures up 12.6 cents to $2.797/MMBtu as of 1:47 p.m. ET July contract nosing above $3…

May 22, 2024
Natural Gas Futures Higher; Prices in California Recovering from Recent Swoon — MidDay Market Snapshot

Natural Gas Futures Higher; Prices in California Recovering from Recent Swoon — MidDay Market Snapshot

The promise of summer cooling demand atop tighter underlying fundamentals continued to stir bullish optimism in Wednesday’s natural gas futures trading. Meanwhile, physical prices at a Southern California hub were rebounding from an early-week plunge. Here’s the latest: June Nymex futures up 5.9 cents to $2.403/MMBtu as of 2:04 p.m. ET Storage surpluses seen narrowing…

May 15, 2024
California Regulators OK PG&E Plan to Harden Electric, Natural Gas Infrastructure

California Regulators OK PG&E Plan to Harden Electric, Natural Gas Infrastructure

Pacific Gas and Electric Co. (PG&E) customers can expect a nearly 13% bill increase next year after California regulators approved a plan to harden electric infrastructure against wildfire risks and upgrade some natural gas infrastructure.  The California Public Utilities Commission (CPUC) unanimously approved the three-year general rate case (GRC) to recover the costs from undergrounding…

November 27, 2023
SoCal Natural Gas Price Premium Lingers as Rising Demand, Inadequate Infrastructure Trump Ample Supply

SoCal Natural Gas Price Premium Lingers as Rising Demand, Inadequate Infrastructure Trump Ample Supply

Even as natural gas pipeline operators take action to balance system capacity with an oversupply of natural gas flooding the market, prices at the SoCal Citygate have consistently held a substantial premium to values at nearby delivery locations, prompting the question, why? Spot prices at SoCal Citygate averaged less than $1.00/MMBtu above the Henry Hub…

November 13, 2023
Aemetis Completes $53M IRA Tax Deal for RNG, Biofuel Project Investors

Aemetis Completes $53M IRA Tax Deal for RNG, Biofuel Project Investors

Renewable natural gas (RNG) and biofuels producer Aemetis Inc. has closed the sale of $53 million in investment tax credits created through the Inflation Reduction Act (IRA) as a part of its first wave of projects expected to be accelerated by the legislative program. The California-based company disclosed that it wrapped up at the end…

October 2, 2023
PG&E’s Natural Gas Costs Rise $400M in 1Q on Colder Weather, Low Storage Inventories

PG&E’s Natural Gas Costs Rise $400M in 1Q on Colder Weather, Low Storage Inventories

Higher natural gas costs resulting from colder weather, historically low natural gas storage levels and regional pipeline constraints nearly doubled Pacific Gas and Electric Corp.’s (PG&E) natural gas expenditures in the first quarter of the year. Total natural gas costs surged to $916 million, compared with $561 million in 1Q2022. Purchased natural gas costs increased…

May 9, 2023
Natural Gas Futures Extend Winning Streak; Cash Prices Strengthen Across Lower 48

Natural Gas Futures Extend Winning Streak; Cash Prices Strengthen Across Lower 48

Natural gas futures forged higher for a sixth consecutive session on Wednesday as traders focused on weakening production and forecasts for chilly March conditions. The April Nymex gas futures contract settled at $2.811/MMBtu, up 6.4 cents day/day. May rose 8.0 cents to $2.943. At A Glance: Analysts see storage pull in 70s Bcf Mid-March forecasts…

March 1, 2023
Natural Gas Forwards Race Higher Out West, But Deep Discounts for Rest of Lower 48

Natural Gas Forwards Race Higher Out West, But Deep Discounts for Rest of Lower 48

Soaring premiums along the West Coast and deep discounts for the rest of the Lower 48 produced a week of varied price action for regional natural gas forwards during the Dec. 1-7 trading period, NGI’s Forward Look data show. Amid reports of a curtailment in volumes flowing through Gas Transmission Northwest’s (GTN) Kingsgate location along…

December 9, 2022
PG&E’s Diablo Canyon Gains Funding to Extend Life for California’s Last Nuclear Plant

PG&E’s Diablo Canyon Gains Funding to Extend Life for California’s Last Nuclear Plant

The Department of Energy (DOE) has conditionally awarded $1.1 billion in federal funding to Pacific Gas and Electric Co. (PG&E) to support extending operations at California’s last remaining nuclear power plant. PG&E’s 2.2 GW Diablo Canyon Power Plant (DCPP) in San Luis Obispo County provides about 17% of California’s carbon-free electricity and 8.6% of the…

November 28, 2022
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