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Commodity market indicators of a 2023 Texas winter freeze

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  • Ronn, Ehud I.

Abstract

Winter storm Uri impacted large swaths of the Continental United States, including the State of Texas, over the period Feb. 13–Feb. 17, 2021. This research attempts to discern what the natgas and power commodity markets are anticipating for Texas for the First Quarter of 2023. The research begins with a retrospective to Feb. 2022 and how the prices of in-State natgas and power prices, relative to their respective ceteris paribus non-freeze benchmarks, exhibited concern over the recurrence of Feb. 2021 in 2022. Next, using prices observed in May 2022 prospectively to Feb. 2023, a concern continues to be exhibited — in two Texas power prices, in Houston and North Pool, and in one of two Texas natural-gas markets — regarding the occurrence of a severe winter storm in Feb. 2023.

Suggested Citation

  • Ronn, Ehud I., 2022. "Commodity market indicators of a 2023 Texas winter freeze," Journal of Commodity Markets, Elsevier, vol. 27(C).
    • Handle: RePEc:eee:jocoma:v:27:y:2022:i:c:s2405851322000277
    DOI: 10.1016/j.jcomm.2022.100269
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    Cited by:

    1. Zhang, Dongna & Dai, Xingyu & Wang, Qunwei & Lau, Chi Keung Marco, 2023. "Impacts of weather conditions on the US commodity markets systemic interdependence across multi-timescales," Energy Economics, Elsevier, vol. 123(C).

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    More about this item

    Keywords

    Informational content of commodity markets;

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing

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