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Welcome to the ECNG MarketWatch
July 8th, 2009
| Natural Gas |
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Aeco (Cdn$/GJ)
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Nymex(U.S.$/mmbtu)
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July 8
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July 1
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Change
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July 8
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July 1
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Change
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Aug09-Oct09
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$3.04
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$3.39
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-10.3%
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$3.51
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$3.97
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-11.6%
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| Nov09-Oct10 |
$5.22
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$5.47
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-4.6%
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$5.42
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$5.80
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-6.6%
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| Nov10-Oct11 |
$6.43
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$6.60
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-5.6%
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$6.51
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$6.82
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-4.5%
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| Nymex Prompt Prices |
July 8
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July 1
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Change
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Natural Gas (U.S. per mmbtu)
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$3.353
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$3.795
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-11.6%
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Crude Oil WTI (U.S. per barrel)
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$60.14
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$69.31
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-13.2%
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| Currency |
July 8
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July 1
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Change
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| USD/CAD |
$0.854
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$0.871
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-1.9%
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In June, US non-farm payrolls fell by 467,000 positions. This was a significant disappointment when compared to the 322,000 jobs lost in May and was well above the 375,000 loss that was expected. The unemployment rate rose slightly to 9.5%, and the average duration of unemployment rose to a record high of 24.5 weeks. After several months of improving job losses, this report highlights the fact that the U.S. economy is still far from healthy.
The concerning implications of continued severe job losses are that they will lead to increased foreclosures, which would depress house prices further. This could result in weaker consumer spending, which in turn could lead to more job losses. It should be noted however, that there were significant job losses right until the end of the 1974/75 and 1981/82 recessions, and job growth did not resume until two years after the 2001 recession had ended.....The full Market Watch is available to ECNG Customers to contact one of our specialists, call 1-888-989-1501 or email info@ecng.com
Please contact your Client Service Representative if you have any questions.
www.ecng.com
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| Ontario Electricity |
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| Average ON PEAK Price for July: |
1.8 cents / kWh |
| ON PEAK Hours over 7.0 cents: |
0.0 % in July |
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6.3% year to date |
| Highest price in the past week: |
5.4 cents / kWh on July 6th |
The difference in demand for power in Ontario between June 2009 and June of the previous 2 years is striking to say the least. Note the following figures:
June 09 Avg Demand 15,141 MW Max. Demand 17,331 MW
June 08 Avg Demand 16,928 MW Max. Demand 19,330 MW
June 07 Avg Demand 17,624 MW Max. Demand 20,437 MW
Average demand dropped 4% from 2007 to 2008 and then a further 10% in 2009. Maximum demand decreased by 5.4% from ’07 to ’08 and then a further 10% in 2009. This is an astounding change in the need for electricity. Normally, industry observers would expect......The full Market Watch is available to ECNG Customers to contact one of our specialists, call 1-888-989-1501 or email info@ecng.com
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