PJM power prices follow gas lower

摘要

PJM spot electric power prices fell Thursday, largely on the back ofweakness across cash and futures natural gas markets.PJM West Hub day-ahead on-peak fell about $2.30 to trade around$16.50/MWh.Forwards prices fell too. PJM West Hub on-peak April fell almost $1to trade around $18.45/MWh. The on-peak June package fell about 55cents to trade at $21.75/MWh.In the cash gas market, Texas Eastern M-3 Hub was trading around$1.310/MMBtu, about 6 cents lower than Wednesday’s assessment.MichCon slid 4 cents to trade around $1.438/MMBtu. The trend wasnationwide, including in the futures market, where the prompt monthfell 3.5 cents to $1.552/MMBtu.