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

OE ENERGY

MARKET SNAPSHOT

National Version – January 2014 Data

Office of Enforcement

Federal Energy Regulatory Commission

February 2014
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov

Office of Energy Projects Energy Infrastructure U

http://www.ferc.gov/legal/staff-reports.asp

(see “Energy Infrastructure” tab) 

Infrastructure Report
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov

Natural Gas and Fuels M
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov

Extreme Weather Causes Record Gas and Power Price

National Natural Gas Market Overview: Special Focus

Source: ICE and Bloomberg WeatherNotes:

Cumulative HDDs Boston NYC Pittsburgh Atlanta Chicago Richmo30 yr avg 1,086 975 1,111 681 1,212 85 yr avg 1,100 1,007 1,170 671 1,261 8

Last Jan 1,038 928 1,038 511 1,160 7Jan 2014 1,164 1,129 1,329 907 1,485 1,0

% Chg from Last Jan 12% 22% 28% 77% 28% 3

% Chg from 5 yr avg 6% 12% 14% 35% 18% 1

% Chg from 30 yr avg 7% 16% 20% 33% 22% 1Coldest Jan since 2009 2009 2009 1994 20
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov

Western and Midwest NG Hubs Set Records in Early 

National Natural Gas Market Overview: Special Focus

Source: ICE Notes: Highlighted prices denote records

Region Hub

2‐6‐14

Delivered Price

All Time

High

Dat

Hig

Rockies Cheyenne $32.25 $32.25 Midwest Chicago Citygates $26.73 $41.31 Rockies CIG Mainline $26.43 $26.43 Midwest Consumers $27.52 $34.46 Midcon Demarc $36.32 $36.32 Southwest EP Permian $24.03 $24.03 

Southwest EP San Juan $24.04 $24.04 Gulf Henry $7.91 $18.41 Gulf Houston Ship Channel $10.49 $13.49 West Malin $25.51 $25.51 Midwest MichCon $22.92 $31.63 Midcon NBPL‐Ventura $36.03 $52.82 Midcon NGPL Midcont $23.66 $23.66 Midcon NGPL TXOK $8.27 $19.88 

Midcon NNG‐Ventura $44.46 $54.44 Rockies NWP‐Rocky Mtn $21.69 $21.69 

Rockies Opal $29.50 $29.50 Midcon Panhandle $36.26 $36.26 West PG&E Citygate $21.79 $21.79 West SoCal Border $20.17 $20.17 

Midcon Ventura $41.22 $53.91 Southwest/Gulf Waha $21.22 $24.08 
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov

Pitts

burgh

Calgary

City Location

Chicago

Oklahoma

City

Los Dallas

Angeles

Sacra

mento Denver

Portland

Houston New 

Orleans 

Vancouver

Last 30D AvgLst yr 30D Avg

5 Yr 30D Avg

HDDs by City 

30 Day Average

453836

15

49

503938

302024

21

9

16

14

49

272223

383033

151313

262222

121615

477

Source: Bloomberg Weather

National Natural Gas Market Overview: Heating Degree Days
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov

Pitts

burgh

Calgary

City Location

Chicago

Oklahoma

City

Los Dallas

Angeles

Sacra

mento Denver

Portland

Houston New 

Orleans 

Vancouver

Last 30D AvgLst yr 30D Avg

5 Yr 30D Avg

CDDs by City 

30 Day Average

000

021

000

000

000

011

000

000

000

000

000

000

Source: Bloomberg Weather

National Natural Gas Market Overview: Cooling Degree Days
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov

Columbia

TCO

AECO 

Pricing PointBOLD – 30 Day Avg PriceGreen – % increase from previous yearRed – % decrease from previous year

ChicagoCitygate

NGPL 

Tex-Okla

El Paso

Permian

SoCal 

Border

PG&E

Citygate

CIG

NW 

Sumas

HSC Henry Hub

Average Spot Natural Gas Pri

30 Day Average ($/MMBtu)

Source: ICE

$5.70 

71%

$4.18

12%

$10.07

189%

$5.86

79%

$5.53

68% $6.18

89%

$6.16

75%

$6.24

70%

$6.36

94%

$5.50

79%

$4.85

37%

National Natural Gas Market Overview: Spot Natural Gas Prices
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov

Columbia

TCO

Pricing PointBOLD – 30 Day Avg VolumeGreen – % increase from previous yearRed – % decrease from previous year

ChicagoCitygate

NGPL

Tex-Okla

El Paso

Permian

SoCal 

Border

PG&E

Citygate

CIG

NW 

Sumas

HSC Henry Hub

F

Average Spot Natural Gas Trading 

30 Day Average (MMBtus)

Source: ICE

2

4,400

‐73%

397,140

‐22%

760,853

7%

387,487

‐4%

327,430

15%

118,450

‐26%

60,403

26%

56,473

38%

674,777

‐5%

195,830

‐65%

National Natural Gas Market Overview: Spot Natural Gas Trading Volumes
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

U.S. NG Supply and Demand January 2013 vs. Janua

National Natural Gas Market Overview: U.S. Supply and Consumption

Note: Balance includes all amounts not attributable to other categories.Source: Derived from Bentek Energy data 

0

102030405060708090

100

2013 2014

Average Daily Volume (Bcfd)

US Natural Gas Supply

0

102030405060708090

100

2013 

Average Daily Volume (Bcfd)

US Natural Gas 

Total Change in Demand

Power 

Generation

Net Dry Gas

Production

Net Pipeline

Imports

3.5%

2.0%

-10.5%

25.6%

LNG Imports

Industrial

Total Change in Supply 

Residential/ 

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

(2)

02468

10121416

Jan-05

Jul-05

Jan-06

Jul-06

Jan-07

Jul-07

Jan-08

Jul-08

Jan-09

Jul-09

Jan-10

Jul-10

Jan-11

Jul-11

Jan-12

Jul-12

Bcfd

NW ImportMidcon ImNE Import

National Natural Gas Market Overview: Canadian Imports

Regional Canadian Imports

Source: Derived from Bentek Energy data 
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

Total U.S. Natural Gas Demand All Sectors

National Natural Gas Market Overview: Total US Gas Demand

Source: Derived from Bentek Energy data, derived from interstate pipeline flow and modeled data. 

0

20406080

100120140160

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

Volume (Bcfd)

2009-2013 Range 2014
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

U.S. Natural Gas Consumption for Power Generat

National Natural Gas Market Overview: NG Consumption for Power Generation

Source: Derived from Bentek Energy data 

0

200,000400,000600,000800,000

1,000,0001,200,000

MMcf/month

2009-12014
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

EIA Storage Inventories

National Natural Gas Market Overview: Natural Gas Storage Inventory

Source: Derived from Bloomberg Data

Notes:

0

500

1,0001,5002,0002,5003,0003,5004,0004,500

U.S Storage Levels (Bcf)

East Storage LevelWest Storage LevelProduction Area Storage Level5 Year Average
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

Monthly U.S. Dry Gas Production – Lower 48 Stat

National Natural Gas Market Overview: Monthly U.S. Dry Gas Production

Note: Prior to July 2010, chart was derived from a combination of EIA and Bentek Energy data

Source: Derived from Bentek Energy data 

1020304050607080

Bcfd

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

NG Rigs by Type

National Natural Gas Market Overview: Rig Count by Type

Source: Derived from Bloomberg dataNotes:

0

200400600800

1,0001,2001,4001,600

Feb‐10

May‐10

Aug‐10

Nov‐10

Feb‐11

May‐11

Aug‐11

Nov‐11

Feb‐12

May‐12

Aug‐12

Nov‐12

Feb‐13

May13

Baker Hughes Rig Count (Rigs)

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

NG Rig by Direction

National Natural Gas Market Overview: Rig Count by Direction

Source: Derived from Bloomberg dataNotes:

0

500

1,0001,5002,0002,500

Baker Hughes Rigs By Drill Type Vertical Horizontal Directio
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

Daily Gas Sendout from Existing U.S. LNG Facilit

National Natural Gas Market Overview: LNG Market-Daily Gas Sendout

Notes: Everett data includes flows onto the AGT and TGP interstate lines, plus estimates of flows to the Mystic 7 power plant, Keyspan Boston 

Gas, and LNG trucked out of the terminal. Excludes flows to the Freeport LNG which flows via intrastate pipelines and flows to the Mystic 8 and 9 power plants.Source: Derived from Bentek Energy data 

0

500

1,0001,5002,0002,5003,0003,500 Sabine Pas

Lake CharleGolden PasFreeportNortheast GExcelerateCameronElba IslandCove PointEverett (GroNeptune

Daily LNG Sendout (MMcf/d)

0

1,0002,0003,0004,000 Monthly Average
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

Source: Waterborne Energy, Inc. Data in $US/MMBtu

World LNG Estimated March 2014 Landed P

Updated 

National Natural Gas Market Overview: World LNG Landed Prices

Cove Point

$4.50

India

$11.55

UK

$8.75

Spain

$9.05

Belgium

$8.84

Korea

$12.40

Lake Charles

$3.96 Altamira $4.60

Cove Point

$4.40

India

$11.55

UK

$8.75

Spain

$9.15

Belgium

$8.99

Korea

$13.10

Lake Charles

$3.93 Altamira $4.57

Cove Point

$4.50

India

$11.55

UK

$8.75

Spain

$9.05

Belgium

$8.84

Korea

$12.40

Lake Charles

$3.96 Altamira $4.60

Cove Point

$5.10

India

$17.63

UK

$9.90

Spain

$15.85

Belgium

$9.89

Korea

$20.0

Lake Charles

$4.42

Altamira

$17.83

Rio de Janeiro

$17.57

Bahia Blanca

$17.65

Chin

$19.

Canaport

$9.76
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

LNG Competitive Price Hubs

National Natural Gas Market Overview: LNG Competitive Price Hubs

Source: Derived from Bloomberg data Notes:

$0$5

$10$15$20$25$30

Feb‐12

Apr‐12

Jun‐12

Aug‐12

Oct‐12

Dec‐12

Feb‐13

Apr‐13

Jun‐13

Aug‐13

Oct‐13

Dec‐13

Feb‐14

Apr‐14

Jun‐14

$/MMBtu

Henry Hub TZ6 NYAlgonquin Citygates UKNBPJapanese LNG Spot Price Futures Price
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

$60$70$80$90

$100$110$120$130

2010 2011 2012 2013 

Oil Prices ($/Barrel)

WtI Oil PriceBrent Crude 

National Natural Gas Market Overview: LNG Competitive Price Hubs

Source: Derived from Bloomberg data
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

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

WECC

RFC RFC

SERC

MRO

FR

ERCOT

Pricing PointBlack – current priceGreen – increase/previous yearRed – decrease/previous year

NP 15

$44.28

39.9%

SP 15

$48.91

41.5%

Four Corners

$38.21

27%

Palo Verde

$37.15

26.4%

COB

$39.56

48.7%

Mid-Columbia

$36.86

65.9% Minnesota Hub $36.32

14.9%

ERCOT

$36.34

2%

TVA

$35.06

7.1%

NI Hub

$36.82

5.8%

PJM West

$43.60

21.6%

NYP

$

3

MAIN

Average On-Peak Spot Electric Prices 2013 

Southern

$34.68

16.2%

National Electricity Market Overview: On-Peak Spot Electric Prices

Source: Derived from Platts data.

Note: prices through Dec 31, 2013

SPP

SPP

$34.17

%18.9

Entergy

$33.34

20.4%

Indiana Hub

$38.16

9.7%
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversig

Electricity Prices in Eastern and Midwest RTOs

National Electricity Market Overview: Electricity Prices

RTO Hub Location

RT Avg Price

(On Peak)

Heat Rate

(On Peak)

RT Avg Price

(On Peak)

ISO‐NE Mass Hub 169.10 $ 10.63 $ 298.37 

NYISO N.Y.C. Zone J $ 129.64 9.53 $ 509.52 

PJM Western Hub 214.17 $ 20.10 $ 764.90 

MISO Indiana Hub 162.70 $ 12.34 $ 290.02 

SPP SPP Wide 47.73 $ 9.88 $ 39.81 

January 6, 2013 January 

Monday Tues

Real Time Prices Show Steep Increases During Cold Wa

Source: Derived from ICE, Genscape, and SPP Data