Power prices at U.S. next-day markets were mixed Tuesday, March 13, following outlooks for varied midweek demand.
Helping to signal fuel costs for some power generators, scant gains were noted at the natural gas futures arena Tuesday, with the front-month April contract closing the day with a 0.8-cent gain at $2.789/MMBtu.
In other suppy, with increased output at Exelon Corp.'s Clinton Power Station in Illinois, total U.S. nuclear plant availability rose to 88.47% early March 13, although 11 units are offline across the U.S. as the maintenance season progresses.
Northeast dailies notch gains; PJM West flounders
Dailies in the East were biased higher Tuesday owing to forecasts for mostly elevated midweek demand as a storm works through parts of the Northeast.
At next-day markets, power prices at the New England Mass hub and New York Zone A markets rose by roughly $2 from Monday and spanned the low to mid-$40s at the former and the high $20s at the latter. Conversely, values at PJM West tumbled more than $5 and ranged in the low to high $40s.
Day-ahead markets mostly favored gains. DAMs at the Mass hub and New York Zone J rose by $1 to $4 from Monday and noted averages of $43.98 and $41.86, respectively, while values at New York Zone A saw little change from Monday and averaged $26.86. Defying the trend were day-ahead deals at New York Zone G, which shed less than $1 from Monday and averaged $29.46.
Demand is set to diverge in the Northeast with New England called to see highs of 16,620 MW on Tuesday and 16,350 MW on Wednesday, while demand in New York should near peaks of 19,184 MW on Tuesday and 19,329 MW on Wednesday.
On the other hand, load in the mid-Atlantic is expected to rise. Demand in the PJM Mid-Atlantic region may hit highs of 36,928 MW on Tuesday and 38,074 MW on Wednesday, while load in the PJM Western region could note peaks of 56,362 MW on Tuesday and 56,775 MW on Wednesday.
Western power markets post mixed moves ahead of midweek
Power trading activity in the West was mixed Tuesday as prices at some hubs defied outlooks for rising midweek demand.
In California, power prices at South Path-15 rose by roughly $5 from Monday and ranged in the mid-$40s to low $50s. The California ISO is forecasting peaks of 27,791 MW on Tuesday and 28,149 MW on Wednesday.
In the Southwest, on-peak deals at Palo Verde and Mead shed less than $1 with power exchanged in the mid- to high $20s at the former and the low $30s at the latter.
In the Northwest, Mid-Columbia heavy-load transactions shed roughly a dollar in the high teens while the California-Oregon Border saw trades in the mid-$30s, up about a dollar on the session.
Midwest prices retreat with lower load forecast
Declining demand forecasts worked to pull down day-ahead deals in the Midwest on Tuesday.
Day-ahead deals at PJM AEP-Dayton and PJM Northern Illinois fell by $3 to $4 from Monday and noted averages of $40.56 and $29.73, respectively.
In terms of demand, load in the PJM AEP region should top out at 18,438 MW on Tuesday and 18,272 MW on Wednesday, while load in the PJM ComEd region could crest at 12,368 MW on Tuesday and 12,307 MW on Wednesday.
Texas values falter despite strong demand forecasts
Robust midweek load forecasts could not stop day-ahead ahead markets in Texas from posting losses Tuesday.
The Electric Reliability Council of Texas expects demand to run up to 38,644 MW on Tuesday and 40,379 MW on Wednesday. However, day-ahead deals still favored losses of $3 to $5 with ERCOT Houston, ERCOT North, ERCOT South and ERCOT West noting averages of $25.27, $24.72, $25.43 and $24.03, respectively.
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.
