With a third of calendar year 2017 now completed, we would like to do a quick review and forecast of the energy markets in the Midwest.
Chart 1 Represents - Chicago City Gate Rolling Forward
Like many financial and commodity markets during 2017, the energy markets to date this year have been characterized by low price volatility across the electricity and natural gas forward curves. Electricity has been particularly lacking in volatility as the market has been in a very tight range regardless of duration. The 12-month PJM/ ComEd rolling forward has edged up a slight .69% from December 30th, 2016 to end April at $30.47 per MWh while the 36-month forward has fallen 2.16% to $28.54 per MWh. The Chicago City Gate natural gas 12-month rolling forward price has retreated 10.60% to $3.24 per MMBtu over the same time frame, and the 36-month has forward price has fallen 7.32% to $2.91 per MMBtu.
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