Skip to main content

NEI's Energy Markets Report - October 1 - 5, 2007

Here's a summary of what went on in the energy markets last week:
Electricity peak prices increased between $3-13/MWh at all hubs. Generation outages and the lingering heat in the West drove prices at the Palo Verde and SP 15 hubs up by more than $10/MWh. Higher spot gas and hot temperatures also sent the Entergy, PJM West and ERCOT hubs up by more than $7/MWh. Peak prices at all the hubs last week were higher then the averages for the last four weeks and last 52 weeks (see pages 1 and 3).

Gas prices at the Henry Hub rose from $6.26/MMBtu to $6.54/MMBtu. Tropical storm fears and an increase in demand due to warmer than normal temperatures contributed to the increase in gas prices at the Henry Hub (see pages 1 and 3).

Nuclear plant capacity availability averaged 85 percent last week. Three reactors began refueling outages last week while two began maintenance (see pages 2 and 4).

Cushing OK WTI oil prices fell $0.55 to $81.70/barrel two weeks ago. Continued low surplus production capacity, weak petroleum inventories, and strong demand worldwide have all contributed to recent high crude oil prices (EIA’s STEO, see pages 1 and 3).

According to NOAA’s most recent projection of heating degree-days, winter in the lower- 48 States is forecasted to be 4 percent colder compared with last winter but 2 percent warmer than the 30-year average (1971 to 2000). Average winter-season (October 1 to March 31) prices and expenditures for all space-heating fuels are projected to be higher than winter 2006-2007. Cooling degree-days this summer were 12 percent higher than normal and slightly higher than last summer. For the entire year of 2007, total electricity consumption is expected to grow about 2.4 percent, primarily due to a surge in electricity consumption in the first quarter (EIA’s STEO, see pages 2 and 5).
For the report click here. It is also located on NEI's Financial Center webpage.

Comments

Popular posts from this blog

Making Clouds for a Living

Donell Banks works at Southern Nuclear’s Plant Vogtle units 3 and 4 as a shift supervisor in Operations, but is in the process of transitioning to his newly appointed role as the daily work controls manager. He has been in the nuclear energy industry for about 11 years.

I love what I do because I have the unique opportunity to help shape the direction and influence the culture for the future of nuclear power in the United States. Every single day presents a new challenge, but I wouldn't have it any other way. As a shift supervisor, I was primarily responsible for managing the development of procedures and programs to support operation of the first new nuclear units in the United States in more than 30 years. As the daily work controls manager, I will be responsible for oversight of the execution and scheduling of daily work to ensure organizational readiness to operate the new units.

I envision a nuclear energy industry that leverages the technology of today to improve efficiency…

Nuclear: Energy for All Political Seasons

The electoral college will soon confirm a surprise election result, Donald Trump. However, in the electricity world, there are fewer surprises – physics and economics will continue to apply, and Republicans and Democrats are going to find a lot to like about nuclear energy over the next four years.

In a Trump administration, the carbon conversation is going to be less prominent. But the nuclear value proposition is still there. We bring steady jobs to rural areas, including in the Rust Belt, which put Donald Trump in office. Nuclear plants keep the surrounding communities vibrant.

We hold down electricity costs for the whole economy. We provide energy diversity, reducing the risk of disruption. We are a critical part of America’s industrial infrastructure, and the importance of infrastructure is something that President-Elect Trump has stressed.

One of our infrastructure challenges is natural gas pipelines, which have gotten more congested as extremely low gas prices have pulled m…

Innovation Fuels the Nuclear Legacy: Southern Nuclear Employees Share Their Stories

Blake Bolt and Sharimar Colon are excited about nuclear energy. Each works at Southern Nuclear Co. and sees firsthand how their ingenuity powers the nation’s largest supply of clean energy. For Powered by Our People, they shared their stories of advocacy, innovation in the workplace and efforts to promote efficiency. Their passion for nuclear energy casts a bright future for the industry.

Blake Bolt has worked in the nuclear industry for six years and is currently the work week manager at Hatch Nuclear Plant in Georgia. He takes pride in an industry he might one day pass on to his children.

What is your job and why do you enjoy doing it?
As a Work Week Manager at Plant Hatch, my primary responsibility is to ensure nuclear safety and manage the risk associated with work by planning, scheduling, preparing and executing work to maximize the availability and reliability of station equipment and systems. I love my job because it enables me to work directly with every department on the plant…