Indiana Hub on-peak down $2.75 on lower power demand, spot gas

摘要

Mid-Atlantic and Midcontinent power dailies were weaker Wednesday on lower spot gas prices and falling power demand expectations from warmer weather forecasts, as power forwards continued to drop. In the Midcontinent ISO footprint, Indiana Hub on-peak day-ahead lost $2.75 into the upper $20s/MWh for Thursday delivery on the Intercontinental Exchange as Indianapolis high temperatures were forecast to rise to the low 40s for Thursday, 5 degrees above normal. The ISO expected peakload to fall 2.9% to around 83,375 MW Thursday from 85,875 MW Wednesday. Indiana Hub on-peak bal-day traded in the low $30s/MWh, $2 lower than where the day-ahead traded for Wednesday. In the PJM region, PJM West Hub on-peak day-ahead moved down $1 to trade in the upper $20s/MWh for Thursday delivery on ICE, as on-peak balance-of-the-day traded in the upper $20s/MWh, about 50 cents lower than where the day-ahead traded for Wednesday.