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AM Power Report: Power dailies could see mixed moves

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AM Power Report: Power dailies could see mixed moves

Next-daypower markets couldsee choppy moves in the Monday, Sept. 26, trading session, as traders look tomixed demand outlooks and recent sideways action for natural gas.

in the priorsession on preweekend profit-taking, front-month October natural gas futureswere up overnight ahead of the Monday open. At last look, the contract was up3.3 cents to $2.988/MMBtu.

Intandem with the recent varied activity in futures, day-ahead natural gasmarkets could be aimed in mixed directions at the start of the new workweek.

Lookingat demand, load in New England is expected to top out at 15,810 MW on Mondayand 15,350 MW on Tuesday. Demand in New York is seen hitting 18,675 MW onMonday and 19,500 MW on Tuesday. To the south, demand in themid-Atlantic region is seen reaching 31,950 MW on Monday and 32,130 MW onTuesday, while load in the Western region is seen topping out at 51,200 MW onMonday and 48,000 MW on Tuesday.

Inthe Midwest, demand in the ComEd region near Chicago is called to reach highsat 12,355 MW on Monday and 11,700 MW on Tuesday. Load in the AEP region islikely to crest at 15,890 MW on Monday and 15,230 MW on Tuesday.

Texas demand is seen reaching 46,450 MW on Monday and 46,825MW on Tuesday. Load in California is expected to peak at 40,110 MW on Mondayand 39,840 MW on Tuesday.

Inforward trade, price action for October power was choppy ahead of the weekend,as supportive weather forecasts collided with pressure driven by ongoingweakness at the natural gas futures arena that implied cheaper fueling costs.

Inthe East, prompt-month power transactions added about 10 cents to average atroughly $31 at NEPOOL-Mass and at near $35 at PJM West, as power deals fordelivery further out to November spanned the high $30s in New England and themid-$30s at PJM West.

Inthe Midwest, PJM AD October picked up about 10 cents in deals carried out atop$34 and PJM Northern Illinois October tacked on over 20 cents in trades done atalmost $33, as MISO Indiana October notched a near-30-cent gain in transactionsaveraging at roughly $35. Along the forward curve, power for November acrossthe three hubs was likewise quoted in the low to mid-$30s.

Inthe South, price activity for October power at the ERCOT market held flat atindexes spread roughly between $28 and $33. Regional pricing for November powersimilarly ran through the high $20s to the low $30s.

Inthe West, front-month power prices in California faltered by between 40 centsand 50 cents to average at about $38 at North Path-15 and at roughly $36 atSouth Path-15, as Mid-Columbia October slumped by nearly 30 cents to an indexat almost $25 and Palo Verde October deflated by approximately 50 cents intrades done at about $28. Power values for November were pegged in the mid- tohigh $30s in California and in the high $20s elsewhere in the region.

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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 gasindex prices, as well as forwards and futures, visitour Commodities Pages.