|Natural Gas Markets
The December 2017 Nymex natural gas contract is up 8c to $3.065 this morning on the back of colder weather changes in the near term forecast. However the 11-15 day forecast shows a return to warmer temperatures on the East Coast, so the market could be choppy over the next week. US dry gas production is at record levels approaching 76 bcf per day and keeping the market well supplied as we head into winter. Last week’s EIA storage report was a 65 bcf build as expected, and bringing inventory levels close to 3.8 tcf for the start of winter. Last week’s warm weather kept cash prices weak with gated Eastern locations trading under $2 and Marcellus supply around $1 this past weekend. The market continues to hold its breath as we approach the winter to see if any early cold weather appears.
Current Month Markets
While most markets are continuing their trends from October, it is worth noting the sharp decline in the NEMA pricing compared to our last update. The first week of November is trending at 50% of the price of October’s settle in NEMA. This can be largely attributed to the return of a few large nuclear units coupled with mild temperatures. It will be interesting to see what type of pressure the return of these nukes will have in the third week of November as cold temperatures are supposed to make their way to the East Coast.
The January 1, 2018 to June 30, 2018 CL&P (Eversource) residential (Rate 1) supply rate will be 9.078¢/kWh. This is about 13% higher than the current CL&P Rate 1 supply rate of approximately 8.01¢/kWh.
These rates, and all rates below include the bypassable Federally Mandated Congestion Charge of 0.010¢/kWh.
Small C&I Standard Service rates will increase about 12%
Rate 1 9.078
Rate 18 9.304
Rate 29 9.304
Rate 40 9.304
Rate 115 9.304
Rates 39, 41, 55, 56, 57, & 58 (at or over 500 kW):
For Last Resort Service rate classes with peak/
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