trending Market Intelligence /marketintelligence/en/news-insights/trending/p9o__ah9utpdxmt8opj9na2 content esgSubNav
In This List

Daily power markets kick off workweek biased higher

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


Daily power markets kick off workweek biased higher

Despite calls for mostly subdued Tuesday demand, the price of power along next-day markets in the U.S. leaned mixed to predominantly higher Monday, March 5.

After notching a scant loss the week prior, the front-month April natural gas futures contract turned slightly higher Monday and closed the session up 0.9 cent to settle at $2.704/MMBtu.

According to the National Weather Service, "A powerful storm system across the central U.S. is bringing heavy snow and blizzard conditions to the Northern Plains and Upper Midwest, and elevated to critical fire weather conditions across the rest of the plains."

East dailies favor gains despite slack demand

Mostly lower Tuesday demand forecasts could not prevent next-day power markets in the East from moving higher Monday.

Next-day deals at the New England Mass hub rose more than $4 and ranged in the low $30s, while PJM West packages were pegged in the low to mid-$30s, up by less than a dollar on the session.

Load is slated to falter in the Northeast, with New England possibly hitting peaks of 16,600 MW on Monday and 16,340 MW on Tuesday, while New York could touch highs of 19,761 MW on Monday and 19,492 MW on Tuesday.

Demand in the mid-Atlantic is mixed. The PJM Mid-Atlantic region should top out at 36,048 MW on Monday and 37,267 MW on Tuesday, while the PJM Western region might crest at 54,742 MW on Monday and 53,643 MW on Tuesday.

Texas dailies defy slack demand forecast with gains

Next-day deals in Texas swung higher Monday as values ignored pressures from sagging load forecasts.

Load in Texas may peak at 41,928 MW on Monday and 38,018 MW on Tuesday. However, next-day trades at ERCOT North rose by roughly $3 from March 2 and changed hands in the high $20s.

In addition, trades at Into Southern were done in the mid-$20s, up slightly from a March 2 index of $26.25.

Most Western power markets firm; South Path-15 eases

Power dailies in the West, with the exception of trades done at South Path-15, ticked higher Monday as most locations waved aside forecasts of declining Tuesday demand.

In the Northwest, power at Mid-Columbia and the California-Oregon Border rose $1 to $2 from March 2 and was priced in the low $30s. In the Southwest, Palo Verde transactions were noted in the high $20s to low $30s, gaining roughly $2 from March 2.

Demand in California is called to reach 28,008 MW on Monday and 27,511 MW on Tuesday. Bogged down by load, deals at South Path-15 were seen in the high $20s, down by less than $1 on the session.

The California ISO declared Restricted Maintenance Operations for the Southern California Region on March 5 from 6 a.m. PT to 10 p.m. PT owing to natural gas curtailments in the area.

Midwest markets start workweek without demand support

Daily power prices in the Midwest spent a quiet Monday session unsupported by load outlooks and with some regions battered by a powerful storm system.

Demand in the Midwest is projected to fall, with load in the PJM AEP region possibly peaking at 17,883 MW on Monday and 17,409 MW on Tuesday, while demand in the PJM ComEd region is seen nearing 12,319 MW on Monday and 12,006 MW on Tuesday.

Market prices and included industry data are current as of the time of publication and are subject to change. For more detailed market data, including power and natural gas index prices, as well as forwards and futures, visit our Commodities pages.