• 12-month average natural gas prices are down $.34/MMBtu but wholesale power prices for the remainder of 2023 is down 2.4% and 2024 is down 1.4%. Notably, the natural gas basis is roughly flat over the last two weeks.
  • The weather outlook remains unchanged and continues showing a cold weather pattern in the West, while the Eastern states are warmer than normal.
  • The EIA announced a withdrawal from storage of 71 Bcf, which is 214 Bcf lower than the five-year average.
  • On 2/20/23 Freeport received the regulatory go-ahead to resume.