Coal generation share in PJM ticks higher in H1 May

Houston — Coal generation ticked higher in the first half of May in the PJM Interconnection to average 297,300 MWh, up 7.2% from 277,243 MWh in the second half of April, but down 36.9% from 471,103 MWh averaged in H1 May 2019, according to PJM data.

Coal's generation share in the regional transmission organization, which covers 12 states and the District of Columbia, rose to 16.2% in H1 May, down from 14.9% in the prior half month and 23.9% in the same period a year ago. It was the highest generation share for coal in a half month since 16.8% in H1 March.

Average natural gas generation fell to 652,352 MWh, or 35.6%, in the first half of May, down from 704,071 MWh, or 37.8% in H2 April, but up from 604,272 MWh, or 30.7%, in the same period a year ago.

Nuclear's generation share rose to 38.1% in H1 May up from 37.6% in H2 April, but down from 38.7% in H1 May 2019.

Total generation fell to an average three-year low 1.83 million MWh in H1 May, down from 1.86 million MWh in H2 April and 1.97 million MWh in the first half of May 2019. It was the lowest average generation in a half month since 1.66 million MWh in H1 April 2017.

PJM West Hub day-ahead on-peak prices averaged $18.85/MWh in the first half of May, down from $19.09/MWh in H2 April and $27.06/MWh in the first half of May 2019.

Spot gas prices fell in the first half of May along with the lower power prices. Along the Texas Eastern (TETCO) M-3 pipeline, prices for next-day flows averaged $1.373/MMBtu in H1 May, down from $1.606/MMBtu in the second half of April and $2.234/MMBtu in H1 May 2019.

Prompt-month coal prices also declined in the latest half month. Central Appalachia 12,500 Btu/lb rail (CSX) coal for prompt-month delivery fell to an average $34.30/st in H1 May, down from $34.90/st in H2 April and $62/st in the first half of May 2019.