Mass Hub on-peak drops $8 on lower demand, spot gas

摘要

Northeast power dailies were weaker Thursday as expectations of warmer weather pulled down projected power demand, with forward power packages continuing to follow the lower prompt-month NYMEX gas futures contract. Mass Hub on-peak day-ahead plunged $8 to trade in the low $30s/MWh for Friday delivery on the Intercontinental Exchange as ISO New England projected peakload to fall 5.8% to around 16,100 MW Friday. Helping pull down power prices, spot gas at the Algonquin citygate dropped 17.5 cents to about $3.395/MMBtu on ICE. Boston high temperatures were forecast to jump into the upper 40s Friday, 10 degrees above seasonal norms, according to CustomWeather. In the NYISO footprint, locational marginal prices were weaker on lower spot gas prices and lower power demand projections. NYISO Zone J NYC on-peak day-ahead LMP dropped $8.75 to around $30.25/MWh for Friday delivery, according to the ISO.