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AM Power Report: Dailies likely to work higher midweek

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August


AM Power Report: Dailies likely to work higher midweek

Dailypower markets couldshift higher in the Wednesday, May 11, session, with mostly stronger demandforecasts on regional grids colliding with recent gains in naturalgas.

in the priorsession, inspired by forecasts for more supportive weather, front-month Junenatural gas futures were extending slightly higher early Wednesday ahead of theopening bell, last pegged at $2.166/MMBtu, up just 0.8 cent.

Next-daynatural gas values are likely to tick higher at most majorconsuming hubs around the country at midweek, in tandem with the recentstrength in futures.

Lookingat load, in the Northeast, demand in New England is expected to crest at 14,240MW on Wednesday and 14,390 MW on Thursday, while load in New York is projectedto reach highs at 18,068 MW on Wednesday and 17,747 MW on Thursday.

Inthe Mid-Atlantic, PJM West region demand is seen hitting highs of 47,200 MW onWednesday and 49,450 MW on Thursday. Load in the Mid-Atlantic region is calledto reach 30,300 MW at midweek and 30,400 MW on Thursday.

Inthe Midwest, demand in the AEP region is likely to crest at 15,100 MW onWednesday and 15,800 MW on Thursday, while load in the ComEd region nearChicago is expected to peak at 11,350 MW on Wednesday and 11,700 MW on Thursday.

Texasdemand is pegged to reach highs at 52,100 MW at midweek and 49,200 MW onThursday. Out West, California load is called to peak at 30,500 MW on Wednesdayand 33,230 MW on Thursday.

Inforward activity, power prices for June were mixed but mostly higher May 10, intandem with the gains notched by front-month natural gas futures on the sessionto ultimately signal an uptick in fueling costs.

Inthe East, NEPOOL-Mass June deflated by about 50 cents against the wider advanceto an index atop $31, as PJM West June joined the uptrend with a near 40-centincrease as it averaged at almost $35. Power for July delivery was marked inthe low $50s in New England and in the high $40s at PJM West.

Inthe Midwest, month-ahead power deals rose by roughly $2 to around $34 at PJM ADand climbed by nearly 90 cents to almost $30 at PJM Northern Illinois, assimilar transactions at MISO Indiana advanced by about 20 cents to atop $30.Looking ahead, power trades for July delivery across the three hubs ran fromthe high $30s to the low $40s.

Inthe South, gains on either side of 40 cents at the ERCOT markets drove priceaction for June power to indexes spread between $27 and $30, trailing regionalpricing for July power delivery that spanned the low $40s overall.

Inthe West, prompt-month power trades held near unchanged at indexes spreadbetween $27 and $28 at both North Path-15 and South Path-15 in California, assimilar deals at both Mid-Columbia and Palo Verde unraveled about 70 cents toaverage at roughly $20 and at almost $24, respectively. Power transactions forJuly were done in the high $20s at Mid-Columbia and in the low to mid-$30selsewhere in the region.

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Marketprices and included industry data are current as of the time of publication andare subject to change. For more detailed market data, including power andnatural gasindex prices, as well as forwards and futures, visitour Commodities Pages.