Dailypower prices atmajor market centers around the country are likely to see choppy to highermoves Tuesday, May 10, as participants eyeball mixed demand outlooks butpotential gains for natural gas.
in the priorsession, June natural gas futures were trekking higher early Tuesday ahead ofthe opening bell, moving at $2.131/MMBtu, up 3.3 cents on short covering.
Inline with any ongoing advance for futures Tuesday, cash natural gas prices arelikely to climb, which could offer upside support to regional power markets.
Interms of demand, load in New England is expected to reach 14,100 MW on Tuesdayand 14,250 MW on Wednesday, with demand in New York likely to crest at 18,000MW on Tuesday and 17,700 MW on Wednesday.
Tothe south in the Mid-Atlantic, PJM Western load is seen peaking at 46,400 MW onTuesday and 47,630 MW on Wednesday. PJM Mid-Atlantic region demand is called tohit 30,600 MW on Tuesday and 30,270 MW on Wednesday.
Inthe Midwest, demand in the PJM AEP region is anticipated to reach 14,640 MW onTuesday and 15,300 MW on Wednesday. Load at the PJM ComEd region near Chicagois likely to reach highs at 11,025 MW on Tuesday and 11,540 MW on Wednesday.
Demandon the ERCOT grid in Texas is seen peaking at 51,800 MW on Tuesday and 50,800MW on Wednesday. Load in California is expected to top out at 29,845 on Tuesdayand 30,725 MW on Wednesday.
Withthe day's marginal loss for futures, term power prices eased in some instancesto kick off the new week May 9.
AtNEPOOL-Mass in New England and Zone G in New York, June power was priced in thelow $30s. In the Mid-Atlantic at PJM West, June delivery parcels were seen inthe mid-$30s.
Atthe Midwestern markets, June power at the PJM AD hub was assessed in the low$30s, while deals for the month at PJM Northern Illinois and at MISO Indianaran in the upper $20s.
InTexas at ERCOT North, June power was transacted in the mid- to upper $20s, withthird-quarter deals holding in the mid-$40s.
InCalifornia, June power parcels at South Path-15 were pegged in the upper $20s,with third-quarter deals reported in the mid-$30s.
AtMid-Columbia, June power packages remained in the low $20s, with third-quarteractivity seen again in the mid-$20s. June Palo Verde power was assessed in themid-$20s, with third-quarter business quoted in the upper $20s.
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.