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AM Power Report: US dailies likely to run mixed at midweek

Dailypower markets couldmove in diverging directions at midweek during the Wednesday, April 13,session, amid varied load outlooks and ongoing gains in natural gas prices.

Suggestingrising costs for U.S. power generators, front-month May natural gas futuresadvanced 9.2 cents inthe prior session and were extending higher overnight, trading at $2.026/MMBtu,up another 2.2 cents early Wednesday ahead of the opening bell, on positionsquaring ahead of the Thursday release of weekly storage data from the U.S.Energy Information Administration.

Marketestimates for the upcoming storage report to be released April 14 are callingfor anywhere from a withdrawal of 13 Bcf to an injection of 10 Bcf for the weekended April 8. The figure will compare to a five-year average injection of 22Bcf and a 49-Bcf addition recorded during the same week in 2015.

Mostday-ahead natural gas markets will likely take their direction from the day'smovement in the futures arena.

Electricityload outlooks look choppy heading into the final part of the workweek. NewEngland demand is seen peaking at 14,660 MW on Wednesday and 14,700 MW onThursday. Load in New York is likely to top out at 18,950 MW on Wednesday and18,450 MW on Thursday.

Inthe Mid-Atlantic, demand in the PJM Western region load is anticipated to peakat 50,100 MW on Wednesday and 48,425 MW on Thursday. Load in the PJMMid-Atlantic region is likely to reach 31,625 MW on Wednesday and 31,030 MW onThursday.

Inthe Midwest, PJM AEP region load should top out at about 16,375 MW on Wednesdayand 16,000 MW on Thursday, with PJM ComEd demand expected to hit 11,325 MW onWednesday and 11,125 MW on Thursday.

TheERCOT grid operator anticipates demand in Texas will reach 37,300 MW onWednesday and 39,350 MW on Thursday. California load is called to hit 27,950 MWon Wednesday and 27,800 MW on Thursday.

Forwardpower market prices were generally higher April 12, with the day's rebound infutures offering upside support.

Inthe East, May power deals at NEPOOL-Mass in New England were seen in the low tomid-$30s, with business for the same month at the PJM West market in theMid-Atlantic assessed in the mid- to high $30s. May power packages at the ZoneG market in New York were melded in the high $20s.

Inthe Midwest, May delivery power was quoted in the low to mid-$30s at the PJM ADhub, the upper $20s at PJM Northern Illinois and in the low $30s at MISOIndiana.

InTexas, May power at the ERCOT North market was assessed in the low to mid-$20s,with third-quarter parcels inked in the mid-$40s.

InCalifornia, May power packages at South Path-15 were transacted in the highteens, with third-quarter deals eyed in the low $30s. May delivery power atMid-Columbia and Palo Verde was seen in the low and high teens, respectively.Third-quarter parcels at Mid-C and Palo Verde ran in the mid- to high $20s,respectively.

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.