PJM West Hub on-peak falls $4 on lower demand, spot gas

摘要

Mid Atlantic and Midcontinent power dailies continued to fall Thursday on lower spot gas prices and a lower power demand forecast, while power forwards continued to follow a lower prompt-month NYMEX natural gas contract. In the PJM region, PJM West Hub on-peak day-ahead shed $4 to trade in the mid-$20s/MWh for Friday delivery on the Intercontinental Exchange. Spot gas at Tetco M-3 sank 16.5 cents to around $2.905/MMBtu, helping to pull down power prices. PJM forecast peakload to fall 6.1% to around 95,925 MW Friday from 102,200 MW Thursday as high temperatures across the PJM footprint were forecast from the low 40s to upper 60s Friday, as much as 27 degrees above seasonal norms, according to CustomWeather. PJM West Hub on-peak balance-of-the-day traded in the mid-$20s/ MWh on ICE, about $5.50 below where day-ahead traded for Thursday. In the Midcontinent ISO footprint, Indiana Hub on-peak day-ahead fell $3.25 to trade in the upper $20s/MWh on ICE, with on-peak nextweek trading at a premium in the upper $30s/MWh.