Next-daypower prices couldchop around in the Tuesday, May 3, session, as traders look to mixed demandoutlooks and recent weakness in natural gas futures.
in theprior session, front-month June natural gas futures were rebounding higher onshort covering early Tuesday, last seen near $2.067/MMBtu, up 2.5 cents aheadof the opening bell.
Day-aheadnatural gas markets could stumble in many cases Tuesday, in line with theprior-session losses in futures, but the downside could be limited by anysustained gains in the futures market.
Interms of load, New England demand is expected to top out at 14,500 MW onTuesday and 14,400 MW on Wednesday. Load in New York is likely to crest at17,935 MW on Tuesday and 17,320 MW on Wednesday.
Inthe Mid-Atlantic, demand in the PJM Western region load is seen reaching 45,240MW on Tuesday and 45,955 MW on Wednesday. Load in the PJM Mid-Atlantic region islikely to reach 30,963 on Tuesday and 30,253 MW on Wednesday.
Inthe Midwest, PJM AEP region load should hit 14,240 MW on Tuesday and 14,460 MWon Wednesday, with PJM ComEd demand expected to peak at 10,975 MW on Tuesdayand 11,100 MW on Wednesday.
Texasdemand is seen peaking at about 39,160 MW on Tuesday and 42,720 MW onWednesday, while California load is called to reach 29,765 MW on Tuesday and28,820 MW on Wednesday.
Pricesfor forward delivery power slipped in value May 2, with the sharp downturn infutures offering pressure in the week's opening session.
Inthe East, June power deals at NEPOOL-Mass in New England and Zone G in New Yorkwere seen in the low $30s, with business for the same month at the PJM Westmarket in the Mid-Atlantic assessed in the mid-$30s.
Inthe Midwest, June delivery power was quoted in the low $30s at the PJM AD huband in PJM Northern Illinois and in the high $20s at MISO Indiana.
InTexas, June power at the ERCOT North market was assessed in the mid-$20s, withthird-quarter parcels inked in the low to mid-$40s.
InCalifornia, June power packages at South Path-15 were transacted in themid-$20s, with third-quarter deals eyed in the mid-$30s. June delivery power atMid-Columbia was seen in the upper teens, with third-quarter parcels at Mid-Creported in the mid-$20s. June Palo Verde power was eyed in the low tomid-$20s, with business for the third quarter reported in the high $20s.
Market prices and includedindustry data are current as of the time of publication and are subject tochange. For more detailed market data, including powerand naturalgas index prices, as well as forwardsand futures,visit our Commodities Pages.