Natural Gas Bullish | Crude Oil Bullish | Economy Bullish/Neutral | Weather Neutral |
Forward power prices in most regions followed gas higher last week. Cal ’22 strips in MISO, PJM, and Northeast markets moved up 3-4% week-over-week. ERCOT Cal’ 22 strip was up ~2% and the Cal ’22 CAISO strip backed off slightly. Cal ’23 saw a slight uptick across the board with the exception of ERCOT, where prices were down ~1.5%.
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