Nat Gas News – April 18, 2017

Nat Gas News – April 18, 2017

In the News

First Battery-Natural Gas Power Plant Unveiled in California

Bloomberg reports: Edison International’s utility unit said it has completed the first-of-its kind battery storage and natural gas power systems in Southern California that will help the region backstop increasing amounts of renewable energy and cope with potential shortages after a historic gas leak. Southern California Edison, General Electric Co. and Wellhead Power Solutions partnered to install 10-megawatt lithium-ion batteries at two of the utility’s gas generators, Rosemead, California-based Edison said Monday in a statement. The plants are designed to fire up during periods of peak demand. The batteries, which can provide instant power while gas turbines ramp up, are expected to reduce fuel use and lead to emission reductions of at least 60 percent, Edison said. “The new system will help SCE better utilize the resources on the grid, provide enhanced reliability, reduce environmental impact, and reduce cost for our operations and for our customers,” Southern California Edison President Ron Nichols said in an emailed statement. For more visit bloomberg.com or click the following link https://bloom.bg/2px0M9C

Natural Gas Prices Reverse to the Downside

Economic Calendar reports: Natural gas prices started off the week off the week with a move to the downside, with the contract for May delivery on the New York Mercantile Exchange falling more than 2% with a drop to $3.17/MMbtu. According to natgasweather.com, weather patterns are expected to be rather bearish through Thursday due to mostly mild/warm temperatures of 60’s to 80’s dominating much of the country beside the far northern US near the Canadian border where weather systems will provide chilly conditions. Friday through Saturday, a weather system will track over the southern and eastern US, to then be followed by a colder one across the north-central and northeastern US. As a result, natural gas demand will be low through Thursday, then moderate Friday- Sunday. For more on this story visit economiccalendar.com or click the following link http://bit.ly/2oIeaYN

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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