Natural Gas Storage Report Injection Season Week 14 (Week Ending July 5th, 2019)

Even with impending tropical storms, the July 4th holiday weekend, and summer heat finally making an appearance, this week’s storage build of 81 Bcf still exceeded market expectations, last year’s 55 Bcf injection, and the five-year average of 71 Bcf. While last week offered little in the realm of fundamental factors besides a mixed forecast, this week’s introduction of tropical storm Barry already has some offshore production shuttered as it approaches.…

New Jersey Advances Clean Energy Agenda

New Jersey advanced several of the Murphy administration’s clean energy goals during June 2019. Over the past month, the state released a draft of its revised Energy Master Plan (EMP), approved the Ocean Wind offshore wind project proposed by Ørsted, and released a detailed analysis on energy storage development in New Jersey. The state’s 2018 clean energy bill, together with Governor Phil Murphy’s Executive Orders No. 8 and 28, set forth an aggressive implementation schedule to achieve the state’s…

Natural Gas Storage Report Injection Season Week 12 (Week Ending June 21, 2019)

The streak of triple-digit injections has finally been broken with a build of 98 Bcf, but it still ended up matching market expectations while surpassing last year’s value of 71 Bcf amd the five-year average of 70 Bcf. Warmer than normal temperatures along the West coast, the deeper Southern region, and part of the East certainly aided in this very slightly bullish but mostly flat print, yet a swath of…

New Jersey Releases Draft of 2019 Energy Master Plan and Invites Comment

CSG Renewable Energy & Sustainability Law Alert On June 10, 2019 the State of New Jersey released a draft of the 2019 New Jersey Energy Master Plan (the “EMP”) for comment. If adopted, the EMP would be a seismic shift in New Jersey energy policy. Quoting the draft plan, “New Jersey is embarking on a significant transition in its energy system, including aggressively pursuing energy efficiency and conservation measures, modernizing…

Natural Gas Storage Report: Injection Season Week 11 (Week Ending June 14, 2019)

After seven weeks in a row of triple-digit injections, one could say that NYMEX futures are looking slightly bearish as of late. The recent EIA report provided an injection of 115 Bcf that exceeded expectations, last year’s 95 Bcf build, and the five-year average of 84 Bcf. The deficit against the five-year average storage inventories has also finally shrunk under 200 Bcf as of this week, and the end of…

Renewable Energy Update – June 2019

Focus California has too much solar power. That might be good for ratepayers  Los Angeles Times – June 5 California set two renewable energy records last week: the most solar power ever flowing on the state’s main electric grid, and the most solar power ever taken offline because it wasn’t needed. New research published in the peer-reviewed journal Solar Energy suggests California should embrace the idea of building more solar panels than…

Energy Snippets June 2019

Senegal takes delivery of wind turbines for its first large-scale wind farm’ Last week, Vestas wind turbines and components arrived at Port Autonome de Dakar for West Africa’s first large-scale wind farm. The wind turbines will be transported by road for delivery of generation equipment for Senegal’s Parc Eolien Taiba N’Diaye wind farm project. Privately-owned UK renewable power company Lekela expects the wind farm, located in Taiba Ndiaye, about 100…

Natural Gas Storage Report Injection Season Week 8 (Week Ending May 24, 2019)

The Eastern region may have seen warmer weather during the reporting period, but cooler weather throughout the West and production nearly returning back to normal levels helped result in a substantial and bearish injection of 114 Bcf that eclipsed all market expectations, last year’s build of 95 Bcf, and the five-year average of 97 Bcf. Multiple weather trackers are showing a delay in the normal summer heat until a week…

Natural Gas Storage Report Injection Season Week 7 (Week Ending May 17, 2019)

This week’s 100 Bcf injection came up slightly short of market expectations, but managed to exceed last year’s value of 93 Bcf and the five-year average of 88 Bcf. Little has changed fundamentally despite slightly warmer changes in the East along with cooler shifts in the West. With any major heat expected to be pushed later into June, the last two trading days have tumbled back under the $2.60/MMBtu mark.…

Energy Snippets

IEA says world cannot “press pause” on renewables, as capacity growth stalls The International Energy Agency (IEA) has expressed concern over the “unexpected flattening” of renewable-energy capacity additions in 2018, which, at 180 GW, remained in line with additions recorded in 2017. It was the first time since 2001 that year-on-year additions of renewable energy failed to grow and coincided with a 1.7% rise in greenhouse-gas emissions to an historic…