Skip to main content

NEI's Energy Markets Report - February 25-February 29, 2008

Here's a summary of what went on in the energy markets last week:
Electricity peak prices increased $2-9/MWh at all hubs except ERCOT. The ERCOT hub decreased $10/MWh trading as low as $27/MWh on Friday the 29th (see pages 1 and 3).

Gas prices at the Henry Hub increased $0.18 to $9.02/MMBtu due to a return of cold weather to most of the lower 48 states. According to EIA, prices in the Northeast region were the highest in the Nation, averaging $13.16 per MMBtu on Wednesday, February 27. The price increases in the Northeast region were by far the largest as a result of extreme cold in the region (see pages 1 and 3).

Estimated nuclear plant availability fell to 90 percent last week. Limerick 1 began a refueling outage and Turkey Point 3 and 4 shut down due to a power outage in Florida (see pages 2 and 4).

Uranium prices were $73 and $74/lb U3O8 according to TradeTech and UxConsulting. According to UxC, there was a flurry of activity last week, punctuated by a large purchase from an investment fund, with buying during the week accounting for about 40% of the total volume for the month. The market clearly found a “sweet spot” at prices between $70 and $75 where a number of deals have taken place (see pages 1 and 3).

West Texas Intermediate crude oil prices increased $5.34 from the previous week to $99.61/barrel. In the past two weeks, the price increased nearly $10/barrel (the fastest two week increase over the past 12 months) and is the highest weekly nominal WTI price ever recorded (see pages 1 and 3).
For the report click here. It is also located on NEI's Financial Center webpage.

Comments

Popular posts from this blog

How Nanomaterials Can Make Nuclear Reactors Safer and More Efficient

The following is a guest post from Matt Wald, senior communications advisor at NEI. Follow Matt on Twitter at @MattLWald.

From the batteries in our cell phones to the clothes on our backs, "nanomaterials" that are designed molecule by molecule are working their way into our economy and our lives. Now there’s some promising work on new materials for nuclear reactors.

Reactors are a tough environment. The sub atomic particles that sustain the chain reaction, neutrons, are great for splitting additional uranium atoms, but not all of them hit a uranium atom; some of them end up in various metal components of the reactor. The metal is usually a crystalline structure, meaning it is as orderly as a ladder or a sheet of graph paper, but the neutrons rearrange the atoms, leaving some infinitesimal voids in the structure and some areas of extra density. The components literally grow, getting longer and thicker. The phenomenon is well understood and designers compensate for it with a …

Why America Needs the MOX Facility

If Isaiah had been a nuclear engineer, he’d have loved this project. And the Trump Administration should too, despite the proposal to eliminate it in the FY 2018 budget.

The project is a massive factory near Aiken, S.C., that will take plutonium from the government’s arsenal and turn it into fuel for civilian power reactors. The plutonium, made by the United States during the Cold War in a competition with the Soviet Union, is now surplus, and the United States and the Russian Federation jointly agreed to reduce their stocks, to reduce the chance of its use in weapons. Over two thousand construction workers, technicians and engineers are at work to enable the transformation.

Carrying Isaiah’s “swords into plowshares” vision into the nuclear field did not originate with plutonium. In 1993, the United States and Russia began a 20-year program to take weapons-grade uranium out of the Russian inventory, dilute it to levels appropriate for civilian power plants, and then use it to produce…

Nuclear Is a Long-Term Investment for Ohio that Will Pay Big

With 50 different state legislative calendars, more than half of them adjourn by June, and those still in session throughout the year usually take a recess in the summer. So springtime is prime time for state legislative activity. In the next few weeks, legislatures are hosting hearings and calling for votes on bills that have been battered back and forth in the capital halls.

On Tuesday, The Ohio Public Utilities Committee hosted its third round of hearings on the Zero Emissions Nuclear Resources Program, House Bill 178, and NEI’s Maria Korsnick testified before a jam-packed room of legislators.


Washingtonians parachuting into state debates can be a tricky platform, but in this case, Maria’s remarks provided national perspective that put the Ohio conundrum into context. At the heart of this debate is the impact nuclear plants have on local jobs and the local economy, and that nuclear assets should be viewed as “long-term investments” for the state. Of course, clean air and electrons …