November 5, 2024
November 4th – It was a rollercoaster ride for December gas, starting the day at a low of $2.520 before climbing steadily to close up $0.116. Meanwhile, power prices for the rest of the month dipped on bearish fundamentals, but the rest of the curve followed gas upwards. The natural gas market is heating up, and with cooler temperatures on the horizon in the 11-15 day forecast, power prices got a nice little bump today.
November 1st – As we headed into the weekend, a sharp drop in spot gas prices dragged near-term power prices down. Adding to the pressure, a slew of thermal outages are wrapping up their scheduled maintenance over the next couple of weeks, which isn’t doing any favors for power prices either
