Next-day power markets could open the new workweek with higher moves inthe Monday, May 9, session, as traders look to slightly stronger load forecastson most regional grids.
Participants will also keep an eye on natural gas priceactivity. Gaining 2.5cents in the prior session, front-month June natural gas futureswere edging slightly lower early Monday, last seen near $2.098/MMBtu, down 0.3cent ahead of the opening bell.
Day-ahead natural gas markets could see mixed moves in theweek's opening session, in line with any sustained losses in futures Monday.Additionally, moderate weather in most major consuming hubs is likely to keep alid on natural gas demand.
In terms of electricity load, New England demand is expectedto peak at 14,270 MW on Monday and 14,330 MW on Tuesday. Load in New York isseen hitting 17,890 MW on Monday and 17,400 MW on Tuesday.
In the Mid-Atlantic, demand in the PJM Western region islikely to top out at 45,740 MW on Monday and 46,200 MW on Tuesday. Load in thePJM Mid-Atlantic region is anticipated to reach 30,200 MW on Monday and 30,425MW on Tuesday.
In the Midwest, PJM AEP region load should reach 14,335 MWon Monday and 14,600 MW on Tuesday, with PJM ComEd demand seen cresting at10,920 MW on Monday and 11,300 MW on Tuesday.
Texas load is likely to top out at 49,180 MW on Monday and53,330 MW on Tuesday. Out West, California load is called to reach 29,025 MW onMonday and 29,580 MW on Tuesday.
Prices for forward delivery power were mostly higher May 6,with the day's gains in futures offering upside traction.
In the East, June power deals at NEPOOL-Mass in New Englandand Zone G in New York were reported in the low to mid-$30s, respectively. Juneparcels at the PJM West market in the Mid-Atlantic were quoted in the mid- toupper $30s.
In the Midwest, June power packages were eyed in themid-$30s at the PJM AD hub and in the low $30s at PJM Northern Illinois and atMISO Indiana.
In Texas, June power at the ERCOT North market ran in thehigh $20s, with third-quarter deals seen in the mid-$40s.
In California, June power parcels at South Path-15 traded inthe high $20s, with third-quarter deals eyed in the mid-$30s.
June delivery power at Mid-Columbia was pegged in the low$20s, with third-quarter parcels seen in the mid-$20s. June Palo Verde powerwas pegged in the mid-$20s, with deals for the third quarter reported in thelow $30s.
Market prices andincluded industry data are current as of the time of publication and aresubject to change. For more detailed market data, including powerand naturalgas index prices, as well as forwardsand futuresvisit our Commodities Pages.