Here's a summary of what went on in the energy markets last week:
Electricity peak prices increased $1-31/MWh last week. All hubs except for Entergy and ERCOT were above $90/MWh. Electricity peak prices in April 2008 are 18-31 percent higher than the same month last year. The average electricity peak price for the Western hubs for April 2007 was $62/MWh – April 2008’s average so far is $81/MWh. The average electricity peak price for the Eastern hubs for April 2007 was $72/MWh – April 2008’s average so far is $85/MWh (see pages 1 and 3).
Gas prices at the Henry Hub increased $0.29 to $10.41/MMBtu. NYMEX gas futures traded around $11/MMBtu for the one-month and six-month ahead deliveries and $10/MMBtu for April 2009. Natural gas in storage was 1,285 bcf as of April 18, which is 1.9 percent below the 2003-2007 average (EIA, see pages 1 and 3).
Estimated nuclear plant availability rose to 79 percent last week. Two units began refueling and three finished (see pages 2 and 4).
Electricity production for the week ending April 19 was down 2.8 percent from the previous week. Year to date electricity production is 0.9 percent higher than the same period in 2007. EIA estimates 2008 electricity demand will increase 0.9 percent from 2007 (see pages 1 and 5).
Crude oil spot prices rose $4.62 to $114.33/barrel and crude oil futures traded between $112-$118/barrel in the one-month, six-month and twelve-months ahead. According to EIA, U.S. average gasoline prices surpassed $3.50 per gallon for the first time and average diesel prices again increased to a new record high of $4.14 per gallon (see pages 1, 2 and 3).
For the report click
here. It is also located on
NEI's Financial Center webpage.
Here's a summary of what went on in the energy markets last week:
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