Here's a summary of what went on in the energy markets last week:
Electricity peak prices decreased $3-13/MWh at all hubs except for PJM West (no trading occurred there). The holiday week and mild weather were seen as the factors in the decline in spot prices. Entergy and ERCOT decreased by more than $10/MWh with ERCOT falling to its lowest price over the last 52 weeks (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 fell from $7.07/MMBtu to $6.96/MMBtu. NYMEX futures fell to $7.60/MMBtu from $7.89/MMBtu for December 2007 (see pages 1 and 3).
Estimated nuclear plant availability rose to 92 percent last week. Two reactors finished refueling outages and no reactors were in maintenance outages (see pages 2 and 4).
Uranium spot prices remained at $93/lb U3O8 according to TradeTech and UxConsulting (see pages 1 and 3).
Crude oil prices fell to $93.56/barrel. EIA attributes high oil prices to a strong global oil demand growth combined with moderate supply growth and low spare production capacity. This has created a tight balance between supply and demand in which global commercial inventories have fallen low and the perceived risk of supply disruptions is seen as high (see pages 1 and 3).