trending Market Intelligence /marketintelligence/en/news-insights/trending/cSlweK0JekYrO7jk3CZJ7w2 content esgSubNav
In This List

AM Power Report: Dailies could open week jumbled amid conflicting fundamentals

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 open week jumbled amid conflicting fundamentals

Next-day power values could diverge in the week's opening session Monday, Dec. 18, as predominantly softer demand forecasts for Tuesday collide with a renewed uptick in natural gas futures trading.

At last glance, January 2018 natural gas futures were trading 7.5 cents higher at $2.667/MMBtu at 6:30 a.m. ET, recovering the 7.2 cents lost in the Dec. 15 trading session.

On the demand side, most grid operators see declining load as the fresh workweek unfolds.

In the Northeast, demand in New England is poised to top out at 18,350 MW on Monday and 17,400 MW on Tuesday, while load in New York is called to reach 21,281 MW on Monday and 20,774 MW on Tuesday. In the Mid-Atlantic, the PJM grid operator sees demand in PJM Western region cresting at 54,912 MW on Monday and 52,904 MW on Tuesday, while load in PJM Mid-Atlantic is projected to hit highs at 37,121 MW at the return of the workweek and 34,869 MW on Tuesday.

In the Midwest, PJM AEP region load will likely reach highs at 17,161 MW on Monday and 16,593 MW on Tuesday, while PJM ComEd demand could peak at 12,858 MW on Monday and 12,686 MW on Tuesday.

In the South, Texas load should near 41,254 MW at the start of the new business week and 41,613 MW on Tuesday, running against the dominant decline.

In the West, California demand is forecast to see highs at 30,557 MW on Monday and 30,414 MW on Tuesday.

In term action, January 2018 power had a mixed showing ahead of the weekend, as weakness at the natural gas futures complex that implied cheaper fueling costs ran counter to supportive weather-related demand prospects.

In the East, month-ahead power unraveled around $3 in deals carried out in the low $60s in New England but tacked on roughly 30 cents in trades done in the high $30s at PJM West. Further along the forward curve, February 2018 power was marked in the mid-$60s in New England and also in the high $30s at PJM West.

In the Midwest, an almost 10-cent slump took PJM AD January 2018 to the low to mid-$30s, as a near 40-cent uptick drove PJM Northern Illinois January 2018 to the low $30s and a better-than-$1 increase steered MISO Indiana January 2018 to the mid- to high $30s. Looking ahead, power for February 2018 delivery was assessed in the low $30s overall.

In the South, price activity for front-month power was up about 30 cents day on day in the high $20s at ERCOT Houston but off roughly 40 cents to as much as 50 cents in the low to high $20s at the rest of the ERCOT hubs. Regional pricing for February 2018 power likewise spanned the low to high $20s.

In the West, California saw power for January 2018 valued in the high $30s in transactions up near 30 cents on the day at North Path-15 but down approximately 20 cents at South Path-15, while a similar offering notched an almost $2 gain in deals assessed in the low $30s at Mid-Columbia but logged a roughly $2 decline in trades done in the high $20s at Palo Verde. Further out, February 2018 power changed hands in the low $30s in California and in the low $20s 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.