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AM Power Report: US power dailies likely to run mixed to start week

Editor's Note: Please be advised that S&P Global Market Intelligence will no longer publish daily articles on price trends in the U.S. natural gas, electricity and emissions markets beginning June 1, 2018. Pricing data for these energy markets will continue to be available on the Market Intelligence platform.

Next-day power prices could see mixed moves Monday, May 14, at markets around the U.S. as traders look to varied load forecasts for the first half of the workweek.

Participants will also keep watch on natural gas market activity. Losing 0.8 cent the day before, NYMEX June natural gas futures were up slightly early Monday to $2.813/MMBtu, increasing 0.7 cent at 7 a.m. ET.

Looking at power load, demand on the six-state New England grid is likely to reach 14,150 MW on Monday and 15,080 MW on Tuesday. Load in New York is anticipated to crest at 17,800 MW on Monday and 19,000 MW on Tuesday.

At the PJM Western region in the mid-Atlantic, demand should peak at 56,520 MW on Monday and 55,900 MW on Tuesday. PJM Mid-Atlantic region load is seen topping out at 33,050 MW on Monday and 39,130 MW on Tuesday.

In the Midwest, demand in the PJM AEP region is called to reach 18,430 MW on Monday and 17,990 MW on Tuesday. Load in the PJM ComEd region near Chicago is expected to peak at 11,865 MW on Monday and 11,620 MW on Tuesday.

Demand on the ERCOT grid in Texas should top out at 58,825 MW on Monday and 58,150 MW on Tuesday. California load is seen peaking at 28,475 MW on Monday and 27,850 MW on Tuesday.

At term power markets May 11, power for June delivery was generally assessed lower, in line with the session's softness in futures, which signaled weaker fueling costs for U.S. power generators.

In the Northeast, June power deals for delivery in New England and the Zone G market in New York were pegged in the upper $20s and low $30s, respectively.

In the Midwest, June power parcels at the PJM markets were assessed in the mid-$30s at the AD hub and the low $30s at the Northern Illinois hub. Power for June delivery at MISO Indiana was seen in the mid-$30s.

At ERCOT North in Texas, June parcels were quoted in the mid-$50s. Third-quarter deals at the Texas hub were eyed in the mid-$130s.

Out West, South Path 15 power for June delivery was seen in the mid-$30s, while business for the month at Mid-Columbia was reported in the mid-teens. Third-quarter packages ran in the low $30s at Mid-Columbia and in the low $50s at South Path 15.

Palo Verde June power was marked in the mid-$30s, with third-quarter parcels reported in the mid-$40s.

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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 index prices, as well as forwards and futures, visit our Commodities pages.