trending Market Intelligence /marketintelligence/en/news-insights/trending/ycxnr3qkcfct4exrtwnl_w2 content esgSubNav
In This List

AM Power Report: Dailies could ascend with load forecasts, gas

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


AM Power Report: Dailies could ascend with load forecasts, gas

Next-day power values could be lifted Tuesday, March 6, by predominantly elevated demand at midweek and ongoing marginal gains in natural gas.

Ending 0.9-cent higher in the week's opening session, NYMEX April natural gas futures were edging up early Tuesday, gaining another 1.0 cent to $2.714/MMBtu at 6:51 a.m. ET.

Day-ahead natural gas markets could tick higher in many cases Tuesday, with the marginal upswing in futures joining with any weather-side load support.

Looking at demand, forecasts suggest mixed but mostly stronger load at midweek.

In the Northeast, load in New England should near 16,350 MW on Tuesday and 16,980 MW on Wednesday, while load in New York is projected to see highs at 19,452 MW on Tuesday and 19,713 MW on Wednesday. Farther south, PJM Western region demand is seen reaching highs at 53,534 MW on Tuesday and 54,792 MW on Wednesday, while PJM Mid-Atlantic load is called to reach 36,767 MW on Tuesday and 37,256 MW on Wednesday.

In the Midwest, load in PJM AEP region is poised to defy the wider uptrend as it is seen cresting at 17,209 MW on Tuesday and 17,025 MW on Wednesday, while demand in PJM ComEd is projected to peak at 12,006 MW on Tuesday and 12,627 MW in the middle of the business week.

In the South, demand in Texas could top out at 38,343 MW on Tuesday and 43,043 MW on Wednesday. In the West, California load could hit highs at 27,535 MW on Tuesday and 27,160 MW on Wednesday.

At the term markets, price action for April power was choppy with a dominant downside bias March 5, as lackluster weather-related demand implied by the calendar weighed on values at most locations.

In the East, the front-month power offering changed hands in the low $30s in transactions roughly 90 cents weaker on the day in New England and almost 20 cents softer at PJM West. Farther along the forward curve, power for May delivery was valued in the high $20s in New England and also in the low $30s at PJM West.

In the Midwest, pricing for April power at the PJM Interconnection markets defied the broad decline with an 80-cent increase to the low $30s at the AD hub and a 30-cent advance to the high $20s at the Northern Illinois hub. MISO Indiana April price activity was off 50 cents on the day in the low to mid-$30s. Power prices for May were pegged in the low to mid-$30s overall.

In the South, the ERCOT markets saw month-ahead power notch losses of 40 cents to 50 cents in deals carried out in the mid-$20s to the low $30s. Regional trading action for May power was spotted in the high $20s to the low $30s.

In the West, a roughly 70-cent reduction steered North Path-15 April to the high $20s and a near 40-cent uptick against the wider retreat took South Path-15 April to the low into mid-$20s, as a 5-cent slump nudged Mid-Columbia April to the low into mid-$10s and an approximately 60-cent increase brought Palo Verde April to the low $20s. May power was quoted in the low $10s at Mid-Columbia and in the low to high $20s elsewhere in the region.

SNL Image SNL Image

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