Winter natural gas prices stumbled hard throughout the back-end of the week, driving down forward power curves across the board. In ISONE, the NEMASSBOST zone dropped $2.25 (-4.4%) on the 12 Month ATC strip to $48.80. The 24 Month ATC strip decreased $1.30 (-2.6%) to $47.92, while the Cal 2019 ATC strip dropped $1.99 (-3.9%) to $49.50/MWh.
Total US consumption of natural gas increased 15% week/week as colder weather swept across the country. Natural gas consumption for power generation increased 9%, industrial sector consumption increased 4%, residential-commercial demand increased 26%, and exports to Mexico increased 2%.
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