trending Market Intelligence /marketintelligence/en/news-insights/trending/5zxdhf_nxekrvv_jlo0aea2 content esgSubNav
In This List

AM Power Report: Dailies could ascend with load prospects

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


AM Power Report: Dailies could ascend with load prospects

Editor's Note: Please be advised that S&P Global Market Intelligence will no longer publish daily articles on price trends in the U.S. natural gas, electricity and emissions markets beginning June 1, 2018. Pricing data for these energy markets will continue to be available on the Market Intelligence platform.

The price of day-ahead power could be lifted Thursday, May 24, in line with mostly rising demand outlooks for Friday.

Looking at natural gas, managing to tally a marginal gain in the prior trading day, NYMEX June natural gas futures were edging up again early Thursday, tacking on 1.1 cents to $2.925/MMBtu at about 6:55 a.m. ET, as the market awaits the midmorning release of the latest storage report from the government, which could detail a slowdown in storage injections.

Forecasts suggest generally stronger load at the close of the workweek, even as business-related demand typically wanes approaching the weekend break.

In the Northeast, load in New England should near 13,950 MW on Thursday and 15,500 MW on Friday, and demand in New York is projected to peak at 18,852 MW on Thursday and 20,950 MW on Friday. In the mid-Atlantic, PJM Western region load could reach highs at 58,050 MW on Thursday and 63,145 MW at the end of the business week, and PJM Mid-Atlantic demand could crest at 36,346 MW on Thursday and 39,000 MW on Friday.

In the Midwest, demand in the PJM AEP region could hit highs at 17,832 MW on Thursday and 18,622 MW on Friday, and load in PJM ComEd could top out at 13,954 MW on Thursday and 16,295 MW on Friday.

In the South, demand in Texas is poised to reach highs at 59,121 MW on Thursday and 62,303 MW at the close of the workweek. In the West, California load is called to reach 28,083 MW on Thursday and 26,629 MW on Friday, bucking the wider uptrend.

In forward trade, June power notched both gains and losses May 23.

In the East, front-month power deals were off 10 cents on the day in the high $20s to the low $30s in New England but up roughly $1 in the high $30s at PJM West. Power transactions for July were assessed in the high $30s in New England and the low $40s at PJM West.

In the Midwest, June power notched an approximately 50-cent increase in trades reported in the low $30s at PJM Northern Illinois, as a similar offering valued in the mid- to high $30s logged a 70-cent advance on the day at PJM AD and a near 90-cent gain at MISO Indiana. July power was marked in the high $30s to the low $40s.

In the South, ERCOT North saw month-ahead power pricing ascend by almost $16 to the mid-$90s, as hub action for July power delivery spanned the mid-$140s.

In the West, a 25-cent loss took Mid-Columbia June to the high $10s, as prompt-month power quoted in the mid- to high $30s posted a roughly $2 decline day on day at Palo Verde and a 50-cent reduction at South Path-15. Along the forward curve, power parcels for July were valued in the low $30s at Mid-Columbia and the high $40s to the low $50s elsewhere in the region.

SNL Image

SNL Image

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.