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AM Power Report: Dailies could open week jumbled amid indecisive drivers


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AM Power Report: Dailies could open week jumbled amid indecisive drivers

Priceaction for power dailies could be choppy at the onset of the fresh workweek Monday,Oct. 10, as mixed demand outlooks combine with recent volatility in natural gasfutures trading.

At lastlook, November natural gas futures were trading at $3.158/MMBtu, down 3.4 centson the day.

On thedemand side, load forecasts for Tuesday are pointed lower for locations along theEast Coast but aimed higher elsewhere in the country.

In theNortheast, demand in New England is poised to peak at 15,130 MW on Monday and 15,030MW on Tuesday, while load in New York is called to reach 18,204 MW at the startof the new business week and 18,158 MW on Tuesday. In the Mid-Atlantic, the PJMInterconnection operator sees demand in PJM Western region cresting at 46,672 MWon Monday and 46,771 MW on Tuesday, while load in PJM Mid-Atlantic is projectedto hit highs at 30,832 MW on Monday and 30,467 MW on Tuesday.

In theMidwest, PJM AEP region load could reach highs at 14,238 MW on Monday and 14,383MW on Tuesday, while PJM ComEd demand could top out at 11,377 MW at the return ofthe workweek and 11,571 MW on Tuesday.

In theSouth, load in ERCOT is forecast to see highs at 45,817 MW on Monday and 48,292MW on Tuesday.

In theWest, CAISO demand should peak near 32,849 MW on Monday and 31,268 MW on Tuesday.

In forwardaction, power prices for November predominantly rose ahead of the weekend, in linewith surging front-month natural gas futures that ultimately implied an uptick infueling costs.

In theEast, NEPOOL-Mass November deflated by about 50 cents against the wider uptrendto an index above $35, as PJM West November added roughly 90 cents to average atop$36. Further along the forward curve, power for December delivery was marked inthe low $50s in New England and in the low $40s at PJM West.

In theMidwest, front-month power transactions at the PJM markets were lifted nearly $2to indexes at over $36 at the AD hub and at more than $35 at the Northern Illinoishub, while similar deals at MISO Indiana were bolstered by 75 cents to an averagearound $38. Looking ahead, power trades for December were assessed in the high $30soverall.

In theSouth, price activity for November power at the ERCOT markets tacked on more orless $1 to average roughly between $29 and $32, while regional pricing for Decemberpower similarly spanned the high $20s to the low $30s.

In theWest, prompt-month power values in California climbed by about 70 cents to indexesatop $37 at North Path-15 and near $36 at South Path-15, as Mid-Columbia Novemberascended by 80 cents and Palo Verde November increased by roughly $1 to both averageabove $27. Further out, power prices for December were pegged in the low $40s inCalifornia and in the low $30s elsewhere in the region.

Marketprices and included industry data are current as of the time of publication andare subject to change. For more detailed market data, including power andnatural gas indexprices, as well as forwards and futures, visitour Commodities Pages.