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Transco spot prices stay low in spite of YOY uptick in LDC demand

A dropin off-system deliveries in TranscontinentalGas Pipe Line Co. LLC Zone 6 helped to keep spot prices lower year overyear during the week ended April 13, in spite of rising demand from the power sectorand gas utilities.

Duringthe week, nominations at delivery points along the pipeline averaged 8.13 Bcf/d,up 6.8% versus the year-ago week, while nominations for deliveries on to the pipelineincreased 2.1% to 8.54 Bcf/d.

Off-systemdeliveries were down 7.4% to 2.46 Bcf/d, while power-sector consumption and residentialand commercial deliveries jumped 14.5% and 26%, respectively, to 1.95 Bcf/d and3.33 Bcf/d, and net injections into storage declined 54.1% to 238,920 Dth/d.

On thesupply side, a 661,802 Dth/d increase in receipts from interconnected interstateand intrastate pipelines more than offset a 484,071 Dth/d decline in net receiptsfrom the upstream and midstream sectors, leading to a net increase in supply yearover year.

Duringthe week, deliveries in Zones 4, 5 and 6 accounted for 82.3% of system demand, whilereceipts in Zones 3, 4 and 6 accounted for 85.7% of supply coming on to the system.Alone, Zone 6 accounted for 51.9% and 43.7% of the week's average supply and demand,respectively.

Zone3 saw the week's average supply decline 15.8% to 727,532 Dth/d, as receipts frominterconnected pipelines declined 1.9% to 523,412 Dth/d.

Duringthe week, Zone 3 spot natural gas prices averaged $1.867/MMBtu, down 27.5% fromthe year-ago level of $2.575/MMBtu.

At Zone4, flows from interconnections with other pipelines climbed 14.7% versus the prioryear to 2.16 Bcf/d, driven primarily by a 263,463 Dth/d increase in flows from .

Zone4 off-system deliveries more than quadrupled to 198,877 Dth/d, driven primarilyby a 179,471 Dth/d increase in flows to ElbaExpress Co. LLC.

Spotprices in the zone were down 27.7% year over year to an average of $1.863/MMBtu,a 0.4-cent premium to Zone 3.

Similarly,spot prices in Zone 5 averaged $1.937/MMBtu, a 26.4% decline from the year-ago week,but a 7.4-cent premium to Zone 4.

Off-systemdeliveries in the zone more than doubled year over year to 336,875 Dth/d, drivenlargely by a 101,770 Dth/d increase in deliveries to the Elba Express pipeline.

Residentialand commercial demand in Zone 5 jumped 67% to 1 Bcf/d, driven primarily by increasedflows to utilities serving customers in North Carolina.

TranscoZone 6 saw the lowest spot natural gas prices along the pipeline as prices declinedversus the year-ago week. At $1.729/MMBtu and $1.819/MMBtu, respectively, for Zone6 non-NY and Zone 6 NY, average spot prices were down 22.2% and 19%, respectively,below the year-ago week.

The dropin the zone's spot prices comes in spite of a 1.2% uptick in demand to 3.55 Bcf/d.Receipts from the midstream sector slipped 2.8% to 2.4 Bcf/d, and were offset bya 4.5% increase in supply from interconnected pipelines.

led the drop in midstream deliveries to Transco, but an increase in flows from helpedto cushion that decline as midstream deliveries fell 69,991 Dth/d year over year.

Meanwhile,increased deliveries from CentralNew York Oil and Gas Co. LLC and Columbia Gas Transmission LLC helped to boost supply despitedeclines at interconnections elsewhere in the zone.

Off-systemdeliveries fell 24.4%, the bulk of the decline being a 253,787 Dth/d drop in flowsto interconnections with NationalFuel Gas Supply Corp.

On balance,Zone 6 deliveries to local distribution companies, or LDCs, climbed 10.3%, led bya 236,973 Dth/d increase in flows to a group of points serving and National Grid USA.

Nearlyall deliveries to power generators took place in Zones 4, 5 and 6, with Zones 4and 5 together accounting for 73.5% of the week's average flows to the power sector,and Zone 6 accounting for the bulk of the remainder. Total system deliveries tothe power sector climbed 14.5% to 1.95 Bcf/d, as deliveries in Zone 4 dropped 15%and those of Zone 5 climbed 15.6%. Zone 6 deliveries to the power sector jumped61.7% to 503,085 Dth/d.

Marketprices and included industry data are current as of the time of publication andare subject to change. For more detailed market data, including power, natural gas and coal index prices, as well as forwards and futures, visit our energy commodities pages. To view operational statistics on interstatenatural gas pipelines, go to our Pipeline Summary Page. To view natural gas operational flow data forreceipt or delivery points, go to our Operational Capacity by Point Page.