Central US power prices down on mixed demand expectations

New York (Platts)--8 Mar 2018 1242 pm EST/1742 GMT

Central power dailies were weaker Thursday on mixed peakload projections as forecast temperatures remain below-seasonal norms.

In MISO, Indiana Hub on-peak day-ahead fell $2 into the low $30s/MWh for Friday delivery on the Intercontinental Exchange.

High temperatures in Indianapolis were forecast to increase 9 degrees to the mid-40s for Friday, still 6 degrees below normal, with lows expected steady in the low 20s, 9 degrees below norms, according to Custom Weather.

MISO forecast peakload to fall 2% to around 83,100 MW Friday from 84,750 MW Thursday.

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In near-term packages, Indiana Hub on-peak next-week lost $2.25 to the low $30s/MWh on ICE.

PJM was exporting roughly 875 MW into MISO around 11:25 am EST Thursday, although it was scheduled to import roughly 825 MW, according to PJM data. On the flipside, PJM was importing around 25 MW from New York ISO, below the scheduled level of approximately 175 MW.

In the PJM markets, NI Hub on-peak day-ahead plunged $3.75 to the low $30s/MWh for Friday delivery on the Intercontinental Exchange.

Similarly, PJM West Hub on-peak day-ahead sank $1.50 to the mid-$30s/MWh as AD Hub on-peak day-ahead was flat in the mid-$30s/MWh

Tetco M-3 spot gas was down 39.5 cents to around $2.665/MMBtu on ICE.

High temperatures across the PJM footprint were forecast in the upper 30s to mid-50s for Friday, as much as 11 degrees below seasonal norms, according to CustomWeather.

Lows were expected in the mid-20s to low 30s, as much as 6 degrees below normal.

PJM forecast peakload up 2.5% to around 107,800 MW Friday from 105,200 MW Thursday.

Wind generation was coming in around 3,700 MW at 10:05 am EST Thursday, above the forecast level of 3,050 MW at 10 am and 3,275 MW at 11 am, according to PJM data.

In near-term packages, PJM West on-peak next-week was in the upper $30s/MWh.

AD Hub on-peak next-week ewas also in the mid-$30s/MWh, with NI Hub on-peak next-week in the low $30s/MWh.

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