Commodity Market Report

Weak natural gas prices drag down power prices: Northeast power and renewables April 2023 short-term outlook

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The combination of high natural gas prices and coal supply issues made 2022 a banner year for energy prices. Outside of CAISO, natural gas prices have fallen back to earth in 2023, and as a result power prices have dropped as well. While coal supply issues remain in place through 2024, these low natural gas prices also undercut the impact of those issues. As a result, with henry hub expected to remain below $4/mmbtu through 2027, energy prices should remain well below 2022 levels over the same period. The supply stack should continue to evolve over the next five years as well. Over 60 GW of coal capacity is expected to retire, while over 60 GW of solar and wind capacity are slated to come online as the country transitions to cleaner sources of energy.

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What's included

This report contains:

  • Document

    North America power and renewables April 2023 STO_PR.pdf

    PDF 1.54 MB

  • Document

    Short Term Outlook Delivered Fuel Prices Nominal Northeast 4 10 2023.xlsx

    XLSX 223.60 KB

  • Document

    Short Term Outlook Delivered Fuel Prices Real Northeast 4 10 2023.xlsx

    XLSX 261.06 KB

  • Document

    Short Term Outlook Load Forecast Northeast 4 10 2023.xlsx

    XLSX 231.42 KB

  • Document

    Short Term Outlook Prices Sparks IHR Darks Nominal Northeast 4 10 2023.xlsx

    XLSX 1.86 MB

  • Document

    Short Term Outlook Prices Sparks IHR Darks Real Northeast 4 10 2023.xlsx

    XLSX 3.40 MB

  • Document

    Short Term Outlook Short Term Fundamentals Northeast 4 10 2023.xlsx

    XLSX 490.26 KB