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AM Power Report: Demand, gas prices to weigh down dailies

Day-aheadpower values couldopen the new workweek tethered to the downside Monday, April 11, as prospectsfor predominantly softer demand as the week unfolds conspire with ongoingweakness at the natural gas futures arena.

in the priorsession, front-month May natural gas futures were extending lower early Mondayahead of the opening bell. At last look, the contract was down another 4.3 centsto trade near $1.947/MMBtu.

Onthe demand side, forecasts suggest declining load in much of the country as thefresh workweek unfolds.

Inthe Northeast, demand in New England is expected to reach highs at 15,130 MW onMonday and 15,090 MW on Tuesday, while load in New York is seen hitting a highat 18,828 MW at the start of the new business week and 18,239 MW on Tuesday. Inthe Mid-Atlantic, the PJM Interconnection sees PJM Western region demandcresting at 48,700 MW on Monday and 47,979 MW on Tuesday, while PJMMid-Atlantic load is called to reach 32,811 MW on Monday and 31,157 MW onTuesday.

Inthe Midwest, demand in the PJM AEP region is poised to peak at 15,762 MW onMonday and 15,271 MW on Tuesday, while load in PJM ComEd could run up againstthe wider decline to highs at 11,261 MW at the return of the workweek and11,477 MW on Tuesday.

Inthe South, ERCOT load could top out at 43,575 MW on Monday and 38,642 MW onTuesday. In the West, demand in CAISO could see highs near 27,900MW on Monday and on Tuesday.

Atthe term markets, price action for May power predominantly notched losses aheadof the weekend, in tandem with front-month natural gas futures that unraveledon the session to ultimately drive a reduction in fueling costs.

Inthe East, a downdraft of about 30 cents took month-ahead power pricing toroughly $33 at NEPOOL-Mass and to almost $34 at PJM West, as power prices forJune spanned the mid-$30s at both hubs.

Inthe Midwest, power transactions for May fell by about 50 cents to atop $31 at PJMAD and slid by near 30 cents to around $28 at PJM Northern Illinois, as similardeals at MISO Indiana deflated by roughly 70 cents to an index at above $29.Power trades for June delivery at the three hubs were likewise done in the high$20s to the low $30s.

Inthe South, power parcels for May at the ERCOT markets shed about 30 centsacross the board in deals averaging between $23 and $26, as power packages fordelivery further out to June were transacted in the high $20s overall.

Inthe West, California saw front-month power values stumble by around 30 cents tonear $23 at North Path-15 and ease by almost 10 cents to about $19 at SouthPath-15, as Palo Verde May faltered by roughly $1 to trade at $18 andMid-Columbia May advanced by almost 60 cents against the wider decline to anindex at above $10. Pricing for June power was spread in the low $10s atMid-Columbia and in the low $20s elsewhere in the region.

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Marketprices and included industry data are current as of the time of publication andare subject to change. For more detailed market data, including power andnatural gasindex prices, as well as forwards and futures, visitour Commodities Pages.