trending Market Intelligence /marketintelligence/en/news-insights/trending/gnze4qqkapl3ruldtclk2w2 content esgSubNav
In This List

US day-ahead power markets start truncated workweek with losses

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?


US day-ahead power markets start truncated workweek with losses

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.

Day-ahead power markets across the U.S. leaned mixed to predominantly lower Tuesday, May 29, as traders took into account mostly lower midweek demand forecasts.

After closing the previous week with a scant loss, the front-month June natural gas futures contract rolled off the board down 6.4 cents to $2.875/MMBtu with the upcoming July contract posting a 6.0-cent decline to settle at $2.903/MMBtu

In other supply, total U.S. nuclear plant availability rose early May 29 to 96.80% following the return of two units.

East DAMs turn lower with load

Most day-ahead markets on the East Coast favored losses Tuesday following outlooks for subdued Wednesday demand.

Day-ahead markets at the New England Mass hub, New York Zone G and New York Zone J slipped by $3 to $7 on the session and averaged $26.05, $29.92 and $32.86, respectively, while DAMs at New York Zone A rose more than $60 on the session and averaged $97.05.

Demand in both the Northeast and mid-Atlantic is set to fall. Load in New England may peak at 16,800 MW on Tuesday and 14,800 MW on Wednesday, while demand in New York should crest at 22,873 MW on Tuesday and 20,499 MW on Wednesday. Load in the PJM Mid-Atlantic region should top out at 41,709 MW on Tuesday and 35,196 MW on Wednesday, while demand in the PJM Western region might hit peaks of 70,336 MW on Tuesday and 63,329 MW on Wednesday.

PJM issued a Hot Weather Alert for the Western and Mid-Atlantic regions from 7 p.m. ET to 10 p.m. ET on May 29.

Texas DAMs biased lower despite demand support

Strong midweek demand forecasts did little to stop day-ahead markets in Texas from favoring losses Tuesday.

The Electric Reliability Council of Texas should see demand run up to 65,805 MW on Tuesday and 67,391 MW on Wednesday.

However, day-ahead markets in the region ran the other way with losses ranging from $3 to $8 on the session and noting averages of $57.24 at ERCOT Houston, $59.65 at ERCOT North, $57.19 at ERCOT South and $54.09 at ERCOT West.

ERCOT meteorologist Chris Coleman said in a May 29 outlook that "hot and above-normal temperatures will continue this week, likely peaking on Friday into the weekend."

Midwest DAMs unsupported by load at week's opener

Power markets in the Midwest opened the holiday-truncated workweek Tuesday unsupported by forecasts for slack midweek demand.

In terms of load, demand in the PJM AEP region should hit peaks of 20,612 MW on Tuesday and 19,513 MW on Wednesday, while load in the PJM ComEd region might note highs of 17,557 MW on Tuesday and 14,463 MW on Wednesday.

The Midcontinent ISO declared a Hot Weather Alert for parts of the Central and Northern regions from 12 p.m. ET on May 27 to 10 p.m. ET on May 29 as average temperatures are expected to be 90 F to 93 F.

Western power markets start workweek without load backing

Power markets in the West spent a quiet Tuesday session finding no support in expectations of subdued Wednesday demand.

The California ISO is calling for highs of 32,407 MW on Tuesday and 28,953 MW on Wednesday.

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.