Northeastern power prices keep sliding amid lower gas prices, power demand

摘要

Northeastern power dailies continued to retreat Wednesday as natural gas prices and power demand again decreased. In ISO New England, Mass Hub day-ahead on-peak fell $6.25 to trade in the low $20s/MWh on the Intercontinental Exchange for Thursday delivery. New York ISO day-ahead locational marginal prices were down across the board for Thursday delivery, according to ISO data. NYISO Zone A day-ahead on-peak fell 50 cents to around $18.75, while Zone G day-ahead on-peak shed $9 to around $24/MWh. Zone J day-ahead on-peak lost $18.25 to around $27/MWh. Day-ahead offpeak prices were down between $1.50 and $15 day on day. Natural gas prices in the Northeast continued to slip Wednesday, causing power prices to weaken. At the Algonquin city-gates hub, spot gas shed 64 cents to around $2.057/MMBtu for Thursday flow. Transco Zone 6 NY spot gas lost 25 cents to $2.035/MMBtu. Lower demand expectations across the Northeast also helped pull power prices down. NYISO forecasts a peak demand of 20,160 MW Thursday, down about 2% day on day, according to the grid operator.