DOE EIA Weekly Gas Storage Report
Working gas in storage was 1,389 Bcf as of Friday, March 18, 2022, according to EIA estimates.
This represents a net decrease of 51 Bcf from the previous week. Stocks were 366 Bcf less than last year at this time and 293 Bcf below the five-year average of 1,682 Bcf. At 1,389 Bcf, total working gas is within the five-year historical range.
DOE EIA Weekly Gas Storage Report
Working gas in storage was 1,440 Bcf as of Friday, March 11, 2022, according to EIA estimates.
This represents a net decrease of 79 Bcf from the previous week. Stocks were 344 Bcf less than last year at this time and 304 Bcf below the five-year average of 1,744 Bcf. At 1,440 Bcf, total working gas is within the five-year historical range.
BP Market Update
It is estimated that the wholesale price of natural gas at “benchmark” Henry Hub will average $3.92 per million British thermal units (MMBtu) in 2022, an eight-year high, and will average $3.60/MMBtu throughout 2023. These spiking prices will put more pressure on drilling and production of Natural Gas.
Events in Ukraine have caused oil prices to skyrocket, The Russian Invasion caused an almost instantaneous global supply shock. Russia is one of the biggest oil producers in the world. As its attacks in Ukraine intensified, traders, shippers and financiers shunned Russian oil, removing much of it from the daily global supply. Roughly 8% of U.S. imports of crude oil and refined products came from Russia last year. For Americans already navigating inflation, the current crisis is likely going to push prices up before they come down.
DOE EIA Weekly Gas Storage Report
Working gas in storage was 1,519 Bcf as of Friday, March 4, 2022, according to EIA estimates.
This represents a net decrease of 124 Bcf from the previous week. Stocks were 281 Bcf less than last year at this time and 290 Bcf below the five-year average of 1,809 Bcf. At 1,519 Bcf, total working gas is within the five-year historical range.
Illinois AG Seeks Order Requiring Capacity Supplier To Refund $428 Million To Customers
Do you remember 2015?
The State of Illinois does. They claim wholesale power generator Dynegy manipulated the entire Mid-Atlantic energy marketplace. Illinois is claiming over $428 million in overcharges as a result.
The issue revolves around a bid for power supply conducted in April of 2015 which resulted in a large price increase. The bid process (from a newly created department in Illinois at the time) has been blamed along with the response by power generators.
The large concern is that power markets cannot be manipulated by any single supplier. The federal government overseeing the involvement of the Illinois Attorney General pursuing this matter shows the staying power and time frame required to review such large and complex markets. However, it also underscores that establishing fair market rules is critical. Oversight should include ensuring that entities requesting bids understand the dynamics of the market.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan, Indiana and Ohio. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM Index, Fixed and PriceAssuranceTM.
Realgy owns and operates 7 solar plants in Illinois and is looking to invest in additional locations.
Additional Information: Illinois AG Seeks Order Requiring Capacity Supplier To Refund $428 Million To Customers — EnergyChoiceMatters.com
DOE EIA Weekly Gas Storage Report
Working gas in storage was 1,782 Bcf as of Friday, February 18, 2022, according to EIA estimates.
This represents a net decrease of 129 Bcf from the previous week. Stocks were 209 Bcf less than last year at this time and 214 Bcf below the five-year average of 1,996 Bcf. At 1,782 Bcf, total working gas is within the five-year historical range.
DOE EIA Weekly Gas Storage Report
Working gas in storage was 2,323 Bcf as of Friday, January 28, 2022, according to EIA estimates.
This represents a net decrease of 268 Bcf from the previous week. Stocks were 393 Bcf less than last year at this time and 143 Bcf below the five-year average of 2,466 Bcf. At 2,323 Bcf, total working gas is within the five-year historical range.
DOE EIA Weekly Gas Storage Report
Working gas in storage was 2,810 Bcf as of Friday, January 14, 2022, according to EIA estimates.
This represents a net decrease of 206 Bcf from the previous week. Stocks were 226 Bcf less than last year at this time and 33 Bcf above the five-year average of 2,777 Bcf. At 2,810 Bcf, total working gas is within the five-year historical range.
Natural gas surges 14% as cold snap ahead is expected to boost demand
US natural gas futures surged 14% in early January 2022. This is on top of recent increases beginning in the fall of last year. In early October into November 2021 oil and natural gas prices surged.
Natural gas is a commodity purchased from suppliers (including utilities) at published prices. Typically, the price referenced is the NYMEX. All natural gas suppliers are impacted by the same cost increase. However, some suppliers such as utilities can delay the impact due to their regulatory price recovery. This can be understood when utilities do not share storage with their third-party suppliers. Natural gas in storage will not increase when the market price does. Those utilities can appear to have a lower price when in fact they just bought the gas during the summer and stored it. Michigan utilities operate like this; they do not provide their customer choosing a gas supplier with their share of storage volume. Therefore, the energy suppliers in Michigan cannot readily offer storage to their customer. Illinois utilities share their storage volumes equally between choice and tariff customers. Therefore, Illinois customer choice customers have nearly 20% of their winter gas purchased during the summer. Realgy calls this our Storage Program see Storage – Realgy Energy Services.
Natural gas pricing was not expected to rise significantly. However, Covid, weather, and consumer behaviors changed that forecast.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan, Indiana and Ohio. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM Index, Fixed and PriceAssuranceTM.
Realgy owns and operates 7 solar plants in Illinois and is looking to invest in additional locations. Currently we are in construction of our 8th project with the park district of Highland Park.
Additional Information:
How Will the Natural Gas Shortage Impact Fuel Dealers and Homeowners? – OILMAN Magazine
Natural gas surges 14% as cold snap ahead is expected to boost demand (cnbc.com)
DOE EIA Weekly Gas Storage Report
Working gas in storage was 3,016 Bcf as of Friday, January 7, 2022, according to EIA estimates.
This represents a net decrease of 179 Bcf from the previous week. Stocks were 199 Bcf less than last year at this time and 72 Bcf above the five-year average of 2,944 Bcf. At 3,016 Bcf, total working gas is within the five-year historical range.