Next-daypower markets aroundthe United States could see choppy moves Tuesday, April 12, as traders look tomixed demand forecasts on regional grids and recent weakness in natural gas.
a collective 10.6 centsin the prior two sessions, the front-month May gas contract was reboundingslightly higher early Tuesday on position covering, moving near $1.939/MMBtu,up 2.7 cents, ahead of the opening bell.
Next-daygas markets, in tandem with the recent activity in futures, could also see aday of varied price moves.
Lookingat demand, load in New England is expected to crest at 14,960 MW on Tuesday and14,850 MW on Wednesday. Demand in New York is likely to top out at 18,900 MW onTuesday and 18,665 MW on Wednesday.
Inthe Mid-Atlantic, PJM Western region load is likely to crest at 48,640 MW onTuesday and 49,275 MW on Wednesday. Demand in the PJM Mid-Atlantic region isseen peaking at 31,440 MW on Tuesday and 30,480 on Wednesday.
Inthe Midwest, PJM AEP region load should reach 15,630 MW on Tuesday and 16,125MW on Wednesday, with PJM ComEd demand likely to hit 11,600 MW on Tuesday and11,375 MW on Wednesday.
Accordingto the ERCOT grid operator, load in Texas is expected to peak at 39,165 MW onTuesday and 37,425 MW at midweek. Demand in California is seen cresting at28,100 MW on Tuesday and 28,200 MW on Wednesday.
Forwardpower prices were mostly lower to start the new week April 11, as the recentretreat in the futures arena suggested softer fueling costs for U.S. powergenerators.
Inthe East, May delivery power at NEPOOL-Mass in New England and at the PJM Westmarket in the Mid-Atlantic was priced in the low $30s. Deals for May at theZone G market in New York were eyed in the mid-$20s.
Inthe Midwest, May power packages traded in the low $30s at the PJM AD hub and inthe upper $20s at both PJM Northern Illinois and MISO Indiana. Third-quarterdeals at Northern Illinois and Indiana ran in the low $30s.
Maybusiness at the ERCOT North market in Texas ran in the low $20s, whilethird-quarter power parcels were transacted in the mid-$40s.
Onthe West Coast, in California, May power deals at South Path-15 were transactedin the high teens. Power at Mid-Columbia and Palo Verde for May delivery wasdiscussed in the low to mid-teens, respectively. Third-quarter power businessat Mid-C and Palo Verde ran in the mid- to high $20s.
Market prices and includedindustry data are current as of the time of publication and are subject tochange. For more detailed market data, including SNL powerand naturalgas index prices, as well as forwardsand futures,visit Energy's Commodities Pages.