Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

OE ENERGY

MARKET SNAPSHOT

West Version –Data through March 2016

Office of Enforcement

Federal Energy Regulatory Commission

April 2016
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Natural Gas and Fuels MWest
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West Day Ahead Natural Gas Prices

Averaged Annually/Seasonally

West Natural Gas Market: Annual Hub Prices

Source: ICE Notes:

Up

3

Average Day

Ahead Prices

($/MMBtu)

SoCal

Border

Opal

Wyoming

Plant

El Paso

Permian

GTN Malin

Oregon

Annual 3.83 3.65 3.63 3.71 Summer 3.82 3.61 3.63 3.67 Winter 2013/2014 4.89 4.88 4.68 4.88 Annual 4.50 4.35 4.26 4.39 Summer 4.34 4.07 4.07 4.14 Winter 2014/2015 3.15 3.03 3.01 3.06 Annual 2.60 2.46 2.44 2.51 Summer 2.67 2.51 2.51 2.56 Winter 2015/2016 2.04 1.96 1.88 2.01 Annual 1.91 1.83 1.81 1.87 Summer 1.76 1.70 1.69 1.72 Winter 2016/2017

2013 2014 2015 2016 YTD
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West Daily Day-Ahead Prices

West Natural Gas Market: Day-Ahead Prices

Source: ICE Notes:

Up

$0$1$2$3$4$5$6

Spot Day-Ahead Prices ($/MMBtu)

SoCal Border Opal Wyoming PEl Paso Permian GTN Malin Orego

$0$2$4$6$8

2013 2014 201

30 Day Movin

4
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

West Daily Day-Ahead Basis

West Natural Gas Market: Day-Ahead Basis

Source: ICE Notes:

Up

-$1.0-$0.8-$0.6-$0.4-$0.2

$0.0$0.2$0.4$0.6$0.8$1.0

Day Ahead Basis ($/MMBtu)

SoCal Border Basis Opal Wyoming PEl Paso Permian Basis GTN Malin Orego

-$1.0

$0.0$1.0$2.0 30D Mo

5
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

West Average Monthly Basis

West Natural Gas Market: Average Monthly Basis

Source: ICENotes:

Up

-$0.40-$0.30-$0.20-$0.10

$0.00$0.10$0.20$0.30$0.40$0.50

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

2014 2015 

Day-Ahead Basis AVeraged Monthly 

($/MMBtu)

SoCal Basis Opal Basis El Paso Permian Basis G

6
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Daily Rockies Natural Gas Demand All Sectors

West Natural Gas Market: Daily Demand

Source: Derived from Bentek Energy data

Note: Rockies is defined as Montana, Wyoming, Colorado, and Utah 

01234567

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov D

Bcfd

2011-2015 Range 2016

7
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

Daily Southwest and Northwest Natural Gas Demand A

West Natural Gas Market: Daily Demand

Source: Derived from Bentek Energy dataNote: Data derived from interstate natural gas pipeline flows. Southwest is defined as New Mexico, Arizona, California, Nevada and the Northwest is defined as Idaho, Oregon, and Washington 

02468

1012141618

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Bcfd

2009-2014 Range 2016

012345

Jan Feb Mar Apr May Jun Jul Au

Bcfd

2011-15 Range 

Southwest Northwes

8
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

West Natural Gas Consumption for Power Genera

West Natural Gas Market: NG Consumption for Power Generation

Source: Derived from Bentek Energy dataNote: West is defined as Montana, Wyoming, Colorado, Utah New Mexico, Arizona, California, Nevada , Idaho, Oregon, and Washington 

0

1,0002,0003,0004,0005,0006,0007,000

MMcfd

 2011 - 2015 Range2016

9
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Electricity MarketsWest
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

CAISO Real Time Prices—Two Year History 

West Electricity Market: CAISO Real Time Prices

11

‐50

0

50

100150200250300350

Weighted Daily Avg ($/MWh)

Prior Year Last 30 days SCE Daily Avg Real Time Price Last 30 days SDG&E Avg Real Time Price was $43.34. Last 30 days PG&E Daily Avg Real Time Pric

Source: Genscape via Bloomberg
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CAISO System Daily Average Load —Two Year Hist

West Electricity Market: CAISO Average Daily Load

12

05

1015202530354045

Feb-13

Mar-13

Apr-13

May-13

Jun-13

Jul-13

Aug-13

Sep-13

Oct-13

Nov-13

Dec-13

Jan-14

Feb-14

Mar-14

Apr-14

May-14

Jun-14

Jul-14

Aug-14

Sep-14

Oct-14

Weighted Daily Avg Load (GW)

Prior Year Last 30 days average on peak load was 26 GW. Last 30 days average off peak loa

Source: Genscape via Bloomberg
13 Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

Mountain Regional Generation Mix

West Electricity Market: Mountain Regional Generation Mix

‐5000

0

5000

10000150002000025000300003500040000

Monthly Generation (GWh)

Mountain Regional Generation Mix,

Jun '13 to Jul '15

Coal Generation in Jul '15 was 184Gas Generation in Jul '15 was 974Hydro Generation in Jul '15 was 2Othr Renew Generation in Jul '15 Nuclear Generation in Jul '15 was Oil Generation in Jul '15 was 20 GTotal Generation in Jul '15 was 35

States: AZ, CO, ID, MT, NM, NV, UT, WY

Source: EIA via Bloomberg
14 Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

West Electricity Market: Pacific Contiguous Generation Mix

Pacific Contiguous Generation Mix

0

5000

10000150002000025000300003500040000

Monthly Generation (GWh)

Hydro Generation in Jul '15 waGas Generation in Jul '15 was 1Nuclear Generation in Jul '15 wRenew Generation in Jul '15 wCoal Generation in Jul '15 was Oil Generation in Jul '15 was 1Total Generation in Jul '15 was 

States: CA, OR, WA

Source: EIA via Bloomberg