Here's a summary of what went on in the energy markets last week:
Electricity peak prices soared with price increases ranging from $10-21/MWh. A cold snap throughout the country last week helped send prices back to the average norms from the depressed prices two weeks ago (Platts, see pages 1 and 3).For the report click here. It is also located on NEI's Financial Center webpage.
Gas prices at the Henry Hub increased from $6.96/MMBtu to $7.18/MMBtu. Colder temperatures were also considered the reason for the price increases at the Henry hub last week (EIA, see pages 1 and 3).
Estimated nuclear plant availability remained at 92 percent last week. One reactor finished a refueling outage, one reactor began refueling and three reactors were down for maintenance (see pages 2 and 4).
Uranium spot prices remained unchanged for the third week in a row at $93/lb U3O8 according to TradeTech and UxConsulting (see pages 1 and 3).
Crude oil prices rose more than $4/barrel to $97.93/barrel. Looking ahead into 2008, both crude prices and refinery constraints should ease somewhat according to EIA. Today’s very high crude prices are expected to fall back to average close to $80 per barrel in 2008 (see pages 1 and 3).