Power dailies could rise Tuesday, Dec. 12, as predominantly supportive demand expectations for midweek collide with recent strength in natural gas.
Ending 5.6 cents higher in the Dec. 11 session, the NYMEX January 2018 natural gas futures contract was little changed at 7:05 a.m. ET on Tuesday, down 0.1 cent to $2.827/MMBtu.
Cash natural gas prices at many of the major U.S. consuming hubs could be aimed higher Tuesday, in tandem with the prior-day gains in futures and drawing support from colder weather, which is seen boosting demand.
Electric load forecasts for midweek are mostly aimed higher.
In the Northeast, demand in New England is forecast to see highs at 17,850 MW on Tuesday and 18,900 MW on Wednesday, while load in New York is projected to peak at 21,141 MW on Tuesday and 22,414 MW in the middle of the business week. Farther south, PJM Western region load is seen touching a high near 61,231 MW on Tuesday and 61,424 MW on Wednesday, while PJM Mid-Atlantic load is expected to crest at 38,565 MW on Tuesday and 40,895 MW on Wednesday.
In the Midwest, PJM AEP region load is seen hitting highs at 19,105 MW on Tuesday and 20,135 MW on Wednesday, while demand in PJM ComEd is poised to buck the dominant uptrend as it is called to reach 14,124 MW on Tuesday and 13,747 MW at midweek.
In the South, load in Texas could top out at 42,483 MW on Tuesday and 46,520 MW on Wednesday. In the West, demand in California should near 30,500 MW on Tuesday and 30,660 MW on Wednesday.
In forward trade, January 2018 power opened the fresh workweek mixed with a dominant upside bias Dec. 11, as rising front-month natural gas futures implied elevated fueling costs.
In the East, power prices for January 2018 added more than $1 in deals done near $80 in New England but gave back almost 60 cents in transactions carried out at close to $43 at PJM West. Power for February 2018 was similarly quoted in the high $70s in New England and in the low $40s at PJM West.
In the Midwest, month-ahead power deals fell roughly 50 cents to about $34 at PJM Northern Illinois, as similar transactions at PJM AD and MISO Indiana also defied the dominant uptick with 40-cent and 30-cent declines, respectively, at indexes on either side of $37. February 2018 power trades were likewise assessed in the low to high $30s overall.
In the South, gains of 90 cents to $1 at the ERCOT markets steered pricing for January 2018 power to roughly $24 to $28. Regional price activity for February 2018 power also spanned the low to high $20s.
In the West, California saw prompt-month power trades climb almost 90 cents to atop $38 at North Path-15 and ascend 60 cents to above $41 at South Path-15. Similar deals were bolstered by roughly 30 cents to average near $28 at Mid-Columbia and lifted more than $1 to around $29 at Palo Verde. Power transactions for February 2018 were done in the low to high $30s in California and in the low to mid-$20s elsewhere in the region.

Market prices and included industry data are current as of the time of publication and are subject to change. For more detailed market data, including power and natural gas index prices, as well as forwards and futures, visit our Commodities pages.
