Editor's Note:
Next-day power values could vary Wednesday, May 30, in line with mixed demand projections for Thursday.
In terms of natural gas, the new front-month July futures contract at the NYMEX was holding near unchanged at $2.902/MMBtu shortly after 6:35 a.m. ET after losing 6.0 cents in the prior day.
Load outlooks for Thursday are aimed in diverging directions.
In the Northeast, demand in New England could see highs at 14,800 MW on Wednesday and 14,600 MW on Thursday, while load in New York could peak at 20,798 MW on Wednesday and 19,997 MW on Thursday. Farther south, PJM Western region load is seen touching a high near 63,342 MW on Wednesday and 69,020 MW in the latter part of the business week, while PJM Mid-Atlantic load is expected to crest at 37,214 MW on Wednesday and 36,501 MW on Thursday.
In the Midwest, the PJM grid operator sees PJM AEP region load hitting highs at 19,513 MW on Wednesday and 20,095 MW on Thursday, while demand in PJM ComEd is called to reach 14,451 MW on Wednesday and 18,749 MW on Thursday.
Elsewhere, Texas load is poised to top out at 66,946 MW on Wednesday and 66,943 MW on Thursday, while California demand should near 28,953 MW on Wednesday and 27,542 MW in the latter part of the workweek.
Along the forward curve, June power prices meandered but mostly deflated at the start of the truncated workweek, as losses at the natural gas futures arena drove fueling costs lower.
In the East, prompt-month power fell by roughly 80 cents to the high $20s in New England and tumbled $1 to the mid-$30s at PJM West. Power for July delivery was quoted in the high $30s to the low $40s at both hubs.
In the Midwest, transactions for June power were off more than $1 on the day in the mid- to high $30s at PJM AD and down almost 80 cents in the low $30s at PJM Northern Illinois, but up over $1 in the high $30s at MISO Indiana. Farther along the forward curve, July power deals were assessed in the high $30s to the low $40s across the three hubs.
In the South, ERCOT North saw front-month power pricing slump by more than $2 to the high $120s, as hub activity for July spanned the high $140s.
In the West, a better-than-$1 decline steered Mid-Columbia June to the high $10s, as June power was valued in the high $30s, gaining 20 cents at Palo Verde and 60 cents at South Path-15. July power was marked in the low $30s at Mid-Columbia and the low $50s elsewhere in the region.

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.
