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The Bear’s Den is Suddenly a Crowded Place

January 02, 2019

Electricity spot prices and natural gas futures have moved into bear territory. 

NEPOOL electricity entered a “downtrend” on 12/21 at $33.35/MWh.   Prices have fallen steadily after reaching more than $82.00/MWh on 12/12. 

New York City electricity joined its northern neighbor a few days later on 12/24 when prices hit $33.67/MWh, a less precipitous fall from nearly $59.00MWh on 12/6.

Mid Atlantic market became a “downtrend” 12/21 and Midwest did also on 12/24.  Both markets are pricing in the mid $20s per MWh as of Monday, Dec 31.

Houston was the late mover into the bear’s den, joining on 12/27 when prices dipped below $30.00/MWh.

NYMEX natural prices, which were within an earshot of $5.00/mmbtu in mid November, are now trading below $3.00/mmbtu to start the new year.