Next-daypower prices were mixed but mostly higher across the United States on Friday,Sept. 30, as traders looked to stronger demand outlooks for the start of thenew workweek but losses for natural gas.
Losing4.3 cents in the prior session, the new front-month November natural gasfutures contract settled Friday at $2.906/MMBtu, down 5.3 cents on profit-takingahead of the weekend.
Intandem with the recent softness in futures, day-ahead gas markets were lowerFriday, with the inclusion of the lower-load weekend days in the tradingpackage also offering pressure.
Regionalgrid operators anticipate increased load at the start of the next workweek Oct.3 amid the typical weekday rebound of business-related demand.
Zone G, PJM West prices tickhigher; New England values ease
Powerprices in the Northeast were mostly higher Friday, as stronger demand forecastswere met by softer regional gas markets.
Powerat New York's Zone G was traded in the low $20s, up $3 or so on the day. To thesouth, at the PJM West market in the mid-Atlantic, on-peak power traded in thelow $30s, gaining $2 to $3 from the prior session.
However,on-peak power deals at NEPOOL-Mass in New England were eyed in the mid-$20s,easing $4 or so on the session.
Day-aheadmarket prices in the Northeast for Oct. 1 delivery stumbled as well, postingaverages at $18.14 at NEPOOL-Mass, $12.45 at New York's Zone A, $15.68 at ZoneG and $15.93 at Zone J.
NewEngland load is seen cresting at 15,100 MW on Oct. 3, up 570 MW from Friday,while New York demand is anticipated to peak at 19,175 MW on Oct. 3, increasing575 MW from Friday. In the PJM Mid-Atlantic region, demand islikely to hit 33,050 MW on Oct. 3, climbing 3,000 MW from Friday. Load in thePJM Western region could touch 48,600 MW on Oct. 3, rising 1,500 MW from Friday.
Spotgas markets were aimed lower as well Friday. Gas at Transco Zone 6-NY was seenat an index at 39.32 cents/MMBtu, down 30 cents on the day.
Midwest power prices tickhigher with rising demand projections
Inthe Midwest, next-day power prices were aimed higher in tandem with demandexpectations for Oct. 3.
Loadin the PJM AEP region is seen topping out at 15,150 MW on Oct. 3, up 750 MWfrom Friday, while load in the ComEd region near Chicago is called to hit11,900 MW on Oct. 3, increasing 120 MW from Friday.
Peakpower deals at the AEP-Dayton hub in Ohio ran in the low $30s, advancing morethan $2 on the day.
However,day-ahead gas markets shifted lower Friday. Gas at Chicago posted an index near$2.65/MMBtu, losing about 20 cents.
ERCOT prices advance withsharp swing higher in demand expected
Next-daypower markets in Texas ticked higher Friday, with gains driven by an expectedsharp step up in demand by the start of the next workweek.
AtERCOT North, on-peak power parcels were inked in the upper $20s, gaining $3 onthe session.
ERCOTDAMs were choppy though, coming in at $23.46 at ERCOT North, $23.82 at ERCOTWest, $25.19 at ERCOT South and $26.56 at ERCOT Houston.
Texasdemand is expected to peak at 52,250 MW on Oct. 3, climbing a stout 7,150 MWfrom Friday, according to the ERCOT grid operator.
West power markets enterweekend with varied moves
Onthe West Coast, next-day power markets saw a choppy session heading into theweekend, with an expected rebound in load at the start of the new week met bysofter gas prices.
InCalifornia, heavy-load power at North Path-15 was marked in the mid-$30s, withheavy-load deals at South Path-15 assessed in the low $30s.
Inthe Northwest, heavy-load power at COB was reported in the high $20s, up $1.Power for heavy-load delivery at Mid-Columbia was pegged in the mid-$20s,easing around $1.
Inthe Southwest, heavy-load power at Palo Verde was eyed in the low $20s,decreasing a few dollars. Mead heavy-load power traded in the mid-$20s, downmore than $1.
Gasprices on the West Coast were softer in front of the weekend break, whichworked to pressure regional power values. Gas at PG&E Citygates ran at anindex near $3.25/MMBtu, losing 10 cents on the session.
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.