After moving mostly higher on Monday, power dailies across the U.S. should build on the gains Tuesday, Nov. 28, amid rising natural gas futures prices.
Following a gain of 11.5 cents in the previous session, December natural gas was trading 4.6 cents higher at $2.974/MMBtu at 7:25 a.m. ET, offering some support for spot gas markets. The December gas contract expires at the close of business Tuesday.
Beside the support from the natural gas market, power dailies will look to mixed demand prospects to drive prices.
In the East, New England could see load top 16,800 MW on Tuesday and 16,320 MW on Wednesday while load in New York is poised to hit 19,636 MW on Tuesday and 19,449 MW on Wednesday. In the Mid-Atlantic, the PJM Western region should see demand reach 50,628 MW on Tuesday and 50,707 MW on Wednesday while the PJM Mid-Atlantic region looks to load peaks of 33,974 MW on Tuesday and 33,273 MW on Wednesday.
In the Midwest, demand in the PJM AEP region is expected to reach 17,033 MW on Tuesday and 16,003 MW on Wednesday while load in the ComEd region is poised to reach 11,948 MW on Tuesday and 11,965 MW on Wednesday.
Elsewhere, the ERCOT grid operator sees load reaching 40,477 MW on Tuesday and 39,404 MW on Wednesday.
On the West Coast, demand in California is expected to reach 29,125 MW on Tuesday and 29,326 MW on Wednesday.
Looking further out, term power products moved higher in December trading as the December product looked to finish its run as the front month with support from gas futures.
In the East, deals for December delivery at the NEPOOL Mass hub were pegged near $50.75, up 7.1% on the day, while PJM West saw front-month action near $34.85, up 6.0% on the day.
In the Midwest, December deals across the region were spotted in the low to mid-$30s with the PJM Northern Illinois hub holding a discount at just above $31, up 5.4% on the day. By comparison, the MISO Indiana hub December product added 5.5% to near $33.75 and December deals at PJM AEP-Dayton were up 5.7% to near $34.25.
In Texas, ERCOT saw December deals at the North location fetch about $24.30, up 9.4% on the day, with the first-quarter 2018 product keeping a small premium to December near $27.35, up 7.7% on the day.
In the West, power forwards pushed higher in most regions to end the previous session. At the Northwest markets, December deals at Mid-Columbia jumped 12.3% on the day to near $34.60 and in California, South Path-15 was spotted in the low $50s, about $5 above North Path-15 but with both California December products up more than 13% on the day. December deals at Palo Verde edged 14.4% higher to above $37.


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, natural gas and coal index prices, as well as forwards and futures, visit our Commodities Pages.
