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AM Power Report: US power dailies could see choppy to softer moves

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AM Power Report: US power dailies could see choppy to softer moves

Next-daypower prices could see mixed to lower moves around the country Thursday, July14, as generally waning demand outlooks ahead of the weekend are met by gainsfor natural gas.

Endingthe prior session just 0.3 centhigher, front-month August natural gas futures were extending tothe upside early Thursday ahead of the opening bell, adding another 1.7 centsto trade near $2.754/MMBtu in front of the midmorning release of weekly naturalgas storage data. Market sources are calling for an average into storage for theweek ended July 8. The figure will compare to the five-year average addition of77 Bcf and the 95-Bcf injection reported for the same week in 2015.

Inline with any sustained gains in futures Thursday, cash natural gas pricescould advance in many cases, which is seen offering some support for regionalpower values.

Interms of demand, load in New England is expected to reach highs at 22,750 MW onThursday and 23,250 MW on Friday. New York demand is seen peaking at 30,000 MWon Thursday and 28,500 MW on Friday.

Inthe Mid-Atlantic, PJM Western load is anticipated to crest at 70,300 MW onThursday and 63,400 MW on Friday, while PJM Mid-Atlantic region demand iscalled to hit 53,600 MW on Thursday and 50,700 MW on Friday.

Midwesterndemand in the PJM AEP region is called to top out at 20,100 MW on Thursday and19,350 MW on Friday. Load at the PJM ComEd region near Chicago is likely toreach highs at 18,600 MW on Thursday and 14,600 MW on Friday.

Demandon the ERCOT grid in Texas is seen peaking at about 67,600 MW on Thursday and66,500 MW on Friday. Load in California is expected to top out at 39,900 MW onThursday and 39,300 MW on Friday.

Amidthe prior day's marginal gain for futures, term power prices were varied acrossthe U.S. at midweek.

Inthe Northeast, at NEPOOL-Mass in New England, August power parcels were inkedin the low $40s, while at New York's Zone G, deals for the month were seen inthe mid-$40s.

Inthe Mid-Atlantic at the PJM West market, August packages bumped up to the low$40s.

Inthe Midwest, August power at the PJM AD hub was assessed in the high $30s,while deals for the month at PJM Northern Illinois and at MISO Indiana ran inthe mid- to upper $30s.

InTexas at ERCOT North, forward power values eased, with August power parcelstransacted in the high $60s and fourth quarter business seen in the high $20s.

Alongthe West Coast, August power deals ran higher in the mid- to high $30s,respectively, at North Path-15 and South Path-15. At Mid-Columbia, August andfourth-quarter power packages were marked in the high $20s, while at PaloVerde, August and fourth-quarter deals was reported in the low to mid-$30s.

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Market prices and includedindustry data are current as of the time of publication and are subject tochange. For more detailed market data, including SNL powerand naturalgas index prices, as well as forwardsand futures,visit Energy's Commodities Pages.