When we built this in 2022, we chose 2019 since it seemed like the most recent “normal” year (if there is such a thing in natural gas) and every year since have considered re-basing but keep finding reasons not to. It does not flow into any forward S/D, rather meant to show trend. You could arguably remove the values on the Y-Axis and it would still serve its purpose. We also track gas share of thermal, absolute & wx-adj power loads, granular EIA-930 data, etc. This is just one piece of the “what’s going on in the power stack” puzzle.
@tipvortice Is this EIA data? Curious if it takes into account BTM solar. By no means am I challenging your conclusion - just wondering if home solar muddies the water.
I’ve been thinking a lot about the best way to measure structural load growth. It is undeniable in TX:
@WMitchell618@firstenercast I show similar. I typically use pop-weighted average temp for this type of analysis. Last weekend looks soft - but it was a weekend - other days have been in line.
EIA Reports +79 Bcf change in natural gas inventories for the week ending May 3.
The build was on the lower end of the range of market expectations and in line with historical benchmarks.
Inventories remain very for this time of year. #natgas
Natural Gas Storage Change: +59 Bcf. Weekly build in line with market expectations. A little smaller than historical comps due to late season cold during the report week. Still very high for this time of year. #natgas
EIA reports a 92 Bcf build in natural gas storage inventories. East Region posted a larger-than-normal build, pushing total stocks above the 5-year range for the first time since mid-January. Inventories across all EIA regions are now above their respective 5-year ranges.
@BadfishRanch Today is expo for CLH24 - likely more a story of low volume expiration trade for H than any underlying fundamentals. Rest of curve is moving less backward.
This week, our team completed a 90-day assessment of the high adjustment figures we’ve been seeing in our weekly and monthly crude oil data.
Let’s discuss what we’ve found and what we plan to do.