Triple-digit plunges in the Northeast and at some locations in the Midcontinent and West led a price downturn across the board Friday. Moderating temperatures in the short-term forecast for several areas, along with some easing of supply shortfalls in the Southwest and the usual weekend decline of industrial load, contributed to arresting the market’s general blizzard-based strength of the preceding four days.
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Next-Day ERCOT Power Hits Triple Digits on Cold, Outages
Next-day Electric Reliability Council of Texas (ERCOT) power prices dug deep into triple digits Wednesday in the wake of a massive winter storm.
Declines Continue in Northeast; Most Points Up a Little
Wednesday’s cash market was quite a bit weaker than Tuesday’s; triple-digit declines continued at several Northeast citygates, but they were joined this time with falling numbers almost everywhere else as end-of-the-year weather forecasts were getting considerably milder.
Only Northeast Strength Avoids Majority Price Dips
Triple-digit spikes returned to most Northeast citygates as significantly colder conditions were anticipated for Sunday and Monday, but in the rest of the cash market it was even greater softness Friday than before as the previous day’s 17.4-cent drop by prompt-month futures, the industrial demand loss experienced over a weekend, and cool to merely chilly temperatures being dominant from the western end of the South through much of California contributed to an overall bearish mood.
All Points Fall; Cold-Based Holiday Rally Not Sure Bet
Triple-digit plunges continued at Northeast citygates Wednesday, and unlike a day earlier they were joined by declines spreading across the board. Several sections of the market were due to get a bit more reprieve Thursday from frigid conditions previously, although lows in the teens and 20s were still in the forecast from the Rockies through the Midwest, and sub-zero readings were expected in Alberta and parts of the Upper Plains.
Most Gains Top $1 Based on Frigid Forecast, Screen
A modest majority of points recorded price increases in triple digits Monday as frigid weather continued spreading into Canada and most of the northern half of the U.S. All of the cash market racked up big gains, getting extra support from the 39.7-cent pre-Thanksgiving spike by January futures.
Ziff Energy: Haynesville Shale Expected to Surpass Barnett Around 2015
Shale gas production in the United States with some output from Canada is expected to more than triple by 2020, according to a new report released by Calgary-based Ziff Energy Group Thursday.
Ziff Energy: Haynesville Shale Expected to Surpass Barnett Around 2015
Shale gas production in the United States with some output from Canada is expected to more than triple by 2020, according to a new report released by Calgary-based Ziff Energy Group last Thursday.
Most Points Up; Northeast Slide Ignores Imminent Storm
Even with a severe winter storm bearing plenty of snow and ice bearing down on the region, triple-digit plunges by Northeast citygates were the only significant exceptions to overall firmness in the rest of the cash market Tuesday. Heating load remained plentiful for Wednesday as the storm left power outages and sheets of ice behind as it departed the Midwest and Midcontinent for its move into the Northeast and Mid-Atlantic.
Losses Outweigh Gains; Rockies See Triple-Digit Dips
Price movement was mixed Monday, with gains dominating slightly in the Gulf Coast but the rest of the market mostly softer. Except for triple-digit plunges in the Rockies, in most cases points did not stray very far up or down from flat. Forecasts of colder post-holiday weather in most of the East early this week were proving to be overstated, and the storage report-driven spike of 49.2 cents last Wednesday had little impact in supporting most cash trading points.