Working Gas in underground storage directly affects the daily electric market price rates in Texas. The reason for this is because the Texas Market Clearing Price for Energy has a 90% correlation with the natural gas market rate. Due to supply and demand factors the natural gas storage report has a daily affect on electric rates in Texas. View the graph: Working natural gas in storage comparison with 5 year Range.
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437 billion cubic feet of gas was purchased through natural gas distribution systems. This was 12% of all gas consumed in Texas (3,585 billion cubic feet). Gas sales through natural gas distribution systems totaled over $2.23 billion. Natural Gas Generation Report.
Lower natural gas spot prices at many trading locations in Texas. For the weeks of December, the price for next-day delivery at the Henry Hub decreased 78 cents per MMBtu, or 10.8 percent to $6.43 per MMBtu. The NYMEX futures contract for January delivery at the Henry Hub settled at $6.769 per MMBtu, which was 90 cents less than the previous weeks. Natural gas in storage decreased to 3,167 Bcf in December, leaving inventories at 9.5 percent above the 5-year average. The spot price for West Texas Intermediate (WTI) crude oil moved up $1.74 per barrel or about 2.8 percent since last Week to $63.08 per barrel or $10.88 per MMBtu.
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