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Texas power and natural gas prices set records during the February 14 winter storm, with Houston Ship Channel spot gas averaging $55.353/MMBtu in February. Power forwards for April rose on the back of higher gas forwards.
The extreme February spike reflects a past weather shock now fading, so it is a limited current driver for gas-linked input costs.
spglobal.comMar 10, 2021After 15 past neutral weather events, Natural Gas moved a median -5.0% over 5 sessions (27% higher; middle half -11.3% to -0.9%), and +4.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
