US Energy Market Report - 3 August 2017

Market Commentary

On a conference call with analysts this week, Dominion Energy CEO Thomas Farrell said that company’s Cove Point LNG export terminal in Maryland may be ready to ship its first outbound cargo by the end of September. Initially constructed as an import terminal for LNG, Cove Point received Federal Energy Regulatory Commission (FERC) approval in April to begin introducing fuel gas to its new export facilities. Once fully operational, Cove Point’s export capacity will be approximately 0.82 Bcf per day.

The California Independent System Operator (Cal-ISO) issued a restricted maintenance operations notice this week as above-normal temperatures bolstered demand for electricity in the region. Market participants were asked to avoid actions that may jeopardize generator or transmission availability, as a heat wave drove total system demand near 45,000 MW.

The U.S. Senate on Thursday confirmed Neil Chatterjee and Robert Powelson as members of the Federal Energy Regulatory Commission (FERC), restoring a working quorum to the agency for the first time since Commissioner Norman Bay stepped down in February. Chatterjee has been an adviser to Senate Republican leader Mitch McConnell, while Powelson was a member of the Pennsylvania Public Utility Commission.

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