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

OE ENERGYMARKET SNAPSHOTNational Version – January 2014 Data

Office of EnforcementFederal Energy Regulatory Commission

February 2014


Office of Energy Projects Energy Infrastructure Updatehttp://www.ferc.gov/legal/staff-reports.asp

(see “Energy Infrastructure” tab)

Infrastructure Report


Natural Gas and Fuels Markets


Extreme Weather Causes Record Gas and Power Prices in Jan

National Natural Gas Market Overview: Special Focus

Source: ICE and Bloomberg Weather

Notes:

Cumulative HDDs Boston NYC Pittsburgh Atlanta Chicago Richmond Philadelphia30 yr avg 1,086 975 1,111 681 1,212 860 9745 yr avg 1,100 1,007 1,170 671 1,261 859 987Last Jan 1,038 928 1,038 511 1,160 785 885Jan 2014 1,164 1,129 1,329 907 1,485 1,019 1,139% Chg from Last Jan 12% 22% 28% 77% 28% 30% 29%% Chg from 5 yr avg 6% 12% 14% 35% 18% 19% 15%% Chg from 30 yr avg 7% 16% 20% 33% 22% 18% 17%Coldest Jan since 2009 2009 2009 1994 2003 2004


Western and Midwest NG Hubs Set Records in Early Feb

National Natural Gas Market Overview: Special Focus

Source: ICE

Notes: Highlighted prices denote records

Region Hub2‐6‐14

Delivered PriceAll Time High

Date "All Time High" Was Set

Rockies Cheyenne $32.25 $32.25 2/5/2014Midwest Chicago Citygates $26.73 $41.31 1/27/2014Rockies CIG Mainline $26.43 $26.43 2/5/2014Midwest Consumers $27.52 $34.46 1/27/2014Midcon Demarc $36.32 $36.32 2/5/2014Southwest EP Permian $24.03 $24.03 2/5/2014Southwest EP San Juan $24.04 $24.04 2/5/2014Gulf Henry $7.91 $18.41 2/25/2003Gulf Houston Ship Channel $10.49 $13.49 12/13/2005West Malin $25.51 $25.51 2/5/2014Midwest MichCon $22.92 $31.63 1/27/2014Midcon NBPL‐Ventura $36.03 $52.82 1/27/2014Midcon NGPL Midcont $23.66 $23.66 2/5/2014Midcon NGPL TXOK $8.27 $19.88 2/25/2003Midcon NNG‐Ventura $44.46 $54.44 1/27/2014Rockies NWP‐Rocky Mtn $21.69 $21.69 2/5/2014Rockies Opal $29.50 $29.50 2/5/2014Midcon Panhandle $36.26 $36.26 2/5/2014West PG&E Citygate $21.79 $21.79 2/5/2014West SoCal Border $20.17 $20.17 2/5/2014Midcon Ventura $41.22 $53.91 1/27/2014Southwest/Gulf Waha $21.22 $24.08 2/25/2003


2181

Pittsburgh

Boston

Calgary

City Location

Chicago

NYCOklahoma

City

DallasLosAngeles

Sacramento Denver

Portland

Houston New Orleans Miami

Vancouver

Last 30D Avg

Lst yr 30D Avg

5 Yr 30D Avg

HDDs by City 30 Day Average

403734

383431

111

453836

1549

503938

302024

21916

1449

272223

383033

151313

262222

121615

477

Source: Bloomberg Weather

National Natural Gas Market Overview: Heating Degree Days

Updated: February 2014


2181

Pittsburgh

Boston

Calgary

City Location

Chicago

NYCOklahoma

City

DallasLosAngeles

Sacramento Denver

Portland

Houston New Orleans Miami

Vancouver

Last 30D Avg

Lst yr 30D Avg

5 Yr 30D Avg

CDDs by City 30 Day Average

000

000

675

000

021

000

000

000

011

000

000

000

000

000

000

Source: Bloomberg Weather

National Natural Gas Market Overview: Cooling Degree Days



2181

ColumbiaTCO

AlgonquinCitygate

AECO

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

ChicagoCitygate

TranscoZ6-NYNGPL

Tex-OklaEl PasoPermian

SoCal Border

PG&ECitygate

CIG

NW Sumas

HSCHenry Hub

FGT-Z3

Average Spot Natural Gas Prices 30 Day Average ($/MMBtu)

Source: ICE

$27.3637%

$26.2690%

$5.6468%$5.70

71%

$4.1812%

$10.07189%

$5.8679%

$5.5368%$6.18

89%

$6.1675%

$6.2470%

$6.3694%

$5.5079%

$4.8537%

National Natural Gas Market Overview: Spot Natural Gas Prices



2181

ColumbiaTCO

AlgonquinCitygate

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

ChicagoCitygate

TranscoZ6-NY

NGPLTex-Okla

El PasoPermian

SoCal Border

PG&ECitygate

CIG

NW Sumas

HSCHenry Hub

FGT-Z3

Average Spot Natural Gas Trading Volume 30 Day Average (MMBtus)

Source: ICE

102,06313%

121,307‐30%

256,60799%

4,400‐73%

397,140‐22%

760,8537%

387,487‐4%

327,43015%

118,450‐26%

60,40326%

56,47338%

674,777‐5%

195,830‐65%

National Natural Gas Market Overview: Spot Natural Gas Trading Volumes



U.S. NG Supply and Demand January 2013 vs. January 2014

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

2163Updated: February 2014

0

10

20

30

40

50

60

70

80

90

100

2013 2014

Aver

age

Dai

ly V

olum

e (B

cfd)

US Natural Gas Supply

0

10

20

30

40

50

60

70

80

90

100

2013 2014

Aver

age

Dai

ly V

olum

e (B

cfd)

US Natural Gas DemandTotal Change in Demand

Power Generation

Net Dry GasProduction

Net PipelineImports

3.5%

2.0%

-10.5%25.6%

5.1%

2.7%

LNG Imports

Industrial

Total Change in Supply 10.7%

18.3%Residential/ Commercial


(2)

0

2

4

6

8

10

12

14

16

Jan-

05Ju

l-05

Jan-

06Ju

l-06

Jan-

07Ju

l-07

Jan-

08Ju

l-08

Jan-

09Ju

l-09

Jan-

10Ju

l-10

Jan-

11Ju

l-11

Jan-

12Ju

l-12

Jan-

13Ju

l-13

Jan-

14

Bcf

d

NW ImportsMidcon ImportsNE Imports

National Natural Gas Market Overview: Canadian Imports

Regional Canadian Imports

Source: Derived from Bentek Energy data Updated: February 2014


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.20009Updated: February 2014

0

20

40

60

80

100

120

140

160

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

Volu

me

(Bcf

d)

2009-2013 Range 2014


U.S. Natural Gas Consumption for Power Generation

National Natural Gas Market Overview: NG Consumption for Power Generation

Source: Derived from Bentek Energy data20024Updated: February 2014

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

MM

cf/m

onth

2009-13 Range

2014


EIA Storage Inventories

National Natural Gas Market Overview: Natural Gas Storage Inventory

Source: Derived from Bloomberg Data

Notes:

Updated 2/18/2014

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

U.S

Stor

age

Leve

ls (B

cf)

East Storage LevelWest Storage LevelProduction Area Storage Level5 Year Average


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

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 dataSource: Derived from Bentek Energy data

20021Updated: February 2014

10

20

30

40

50

60

70

80

Bcf

d

Dry Production


NG Rigs by Type

National Natural Gas Market Overview: Rig Count by Type

Source: Derived from Bloomberg data

Notes:

Updated 2/18/2014

0

200

400

600

800

1,000

1,200

1,400

1,600Feb‐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

May‐13

Aug‐13

Nov‐13

Feb‐14

Baker H

ughe

s Rig Cou

nt (R

igs)

Oil Rigs Gas Rigs


NG Rig by Direction

National Natural Gas Market Overview: Rig Count by Direction


Notes:

Updated 2/18/2014

0

500

1,000

1,500

2,000

2,500

Bake

r Hug

hes

Rigs

By

Drill

Type

Vertical Horizontal Directional


Daily Gas Sendout from Existing U.S. LNG Facilities

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 data3007Updated: February 2014

0

500

1,000

1,500

2,000

2,500

3,000

3,500 Sabine PassLake CharlesGolden PassFreeportNortheast GatewayExcelerateCameronElba IslandCove PointEverett (Grossed)Neptune

Dai

ly L

NG

Sen

dout

(MM

cf/d

)

0

1,000

2,000

3,000

4,000 Monthly Average


3024Source: Waterborne Energy, Inc. Data in $US/MMBtu

World LNG Estimated March 2014 Landed Prices

Updated February 2014

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

Japan$12.40

Korea$12.40

Lake Charles$3.96Altamira

$4.60

Cove Point$4.40

India$11.55

UK$8.75

Spain$9.15

Belgium$8.99

Japan$13.10

Korea$13.10


$4.57

Cove Point$4.50

India$11.55

UK$8.75

Spain$9.05

Belgium$8.84

Japan$12.40

Korea$12.40


$4.60

Cove Point$5.10

India$17.63

UK$9.90

Spain$15.85

Belgium$9.89

Japan$20.00

Korea$20.00

Lake Charles$4.42

Altamira$17.83

Rio de Janeiro$17.57

Bahia Blanca$17.65

China$19.60

Canaport$9.76


LNG Competitive Price Hubs

National Natural Gas Market Overview: LNG Competitive Price Hubs


Notes:

Updated 2/18/2014

$0

$5

$10

$15

$20

$25

$30Feb‐12

Apr‐1

2Jun‐12

Aug‐12

Oct‐1

2De

c‐12

Feb‐13

Apr‐1

3Jun‐13

Aug‐13

Oct‐1

3De

c‐13

Feb‐14

Apr‐1

4Jun‐14

Aug‐14

Oct‐1

4De

c‐14

Feb‐15

$/MMBtu

Henry Hub TZ6 NYAlgonquin Citygates UKNBPJapanese LNG Spot Price Futures Prices


$60

$70

$80

$90

$100

$110

$120

$130

2010 2011 2012 2013 2014

Oil Prices ($

/Barrel)

WtI Oil Price

Brent Crude Oil Price

National Natural Gas Market Overview: LNG Competitive Price Hubs



Electricity Markets


WECC

RFCRFC

NPCC

SERC

MRO

FRCCERCOT

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

NP 15$44.2839.9%

SP 15$48.9141.5%

Four Corners$38.2127%

Palo Verde$37.1526.4%

COB$39.5648.7%

Mid-Columbia$36.8665.9% Minnesota Hub

$36.3214.9%

ERCOT$36.34

2%Florida$36.265.2%

TVA$35.067.1%

NI Hub$36.825.8%

PJM West$43.6021.6%

NYPP Zone G$57.6331.2%

Mass Hub$63.4853.6%

NYPP Zone J$ 60.8030.3%

MAIN

Average On-Peak Spot Electric Prices 2013 ($/MWh)

Southern$34.6816.2%

National Electricity Market Overview: On-Peak Spot Electric Prices

1207

Source: Derived from Platts data.

Note: prices through Dec 31, 2013

SPP

SPP$34.17%18.9

Entergy$33.3420.4%


Indiana Hub$38.169.7%


Electricity Prices in Eastern and Midwest RTOs

National Electricity Market Overview: Electricity Prices

Updated February 18, 2014

RTO Hub LocationRT Avg Price (On Peak)

Heat Rate (On Peak)

RT Avg Price (On Peak)

Heat Rate (On Peak)

ISO‐NE Mass Hub 169.10$ 10.63 298.37$ 8.73 NYISO N.Y.C. Zone J 129.64$ 9.53 509.52$ 9.18 PJM Western Hub 214.17$ 20.10 764.90$ 17.30 MISO Indiana Hub 162.70$ 12.34 290.02$ 39.24 SPP SPP Wide 47.73$ 9.88 39.81$ 7.05

January 6, 2013 January 7, 2013Monday Tuesday

Real Time Prices Show Steep Increases During Cold Wave

Source: Derived from ICE, Genscape, and SPP Data

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