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Suez Weekly Market Monitor
Derek Mumford ERCOT on peak power prices began the week on an upward path and decreased slightly at mid-week. The week ended with prices returning to an inclining path. ERCOT on peak prompt month prices finished the week at $62.88, up 6.19% or $3.89. ERCOT Bal ‘08 closed at $75.01/MWh, up 4.39% ERCOT Cal ‘09 closed at $75.53/MWh, up 3.27%. ERCOT Cal ‘10 closed at $73.00/MWh, up 2.25%. The prompt month for the Houston Zone on peak finished at $78.88/MWh, and the prompt month North Zone on peak finished at $72.75/MWh.  NYISO—NEPOOL Power Northeast power prices started the week on an inclining path and declined slightly at mid week. The week ended with prices moving in an upward trend. NYISO Zone J on peak prompt month closed the week at $114.48/MWh, increasing $1.85/MWh, an increase of 1.62% from last week. NYISO Zone A on peak prompt month finished at $75.57/ MWh, an increase of $1.41/MWh or 1.87%. Massachusetts NEMA on peak prompt month closed at $82.67/MWh, a decrease of 0.02% or $0.02/MWh. Massachusetts SEMA on peak prompt month finished the week at $92.96/MWh, decreasing 0.02% or $0.02/MWh.  PJM Power P JM power prices started the week on an inclining path. Prices continued on this path as mid-week approached and continued on this path till the end of the week. Cinergy on peak prompt month finished the week at $70.13/MWh, an increase of 0.89% or $0.63/MWh. NI Hub on peak prompt month finished the same week without any changes to its last week’s price. Ni Hub prices closed at $69.00/MWh. PJM West Hub on peak prompt month decreased $0.35/ MWh closing at $83.53/MWh, a change of 0.42%. PSEG on peak prices for the prompt month closed at $99.76/MWh, a decrease of 0.35%, down $0.35/MWh.  Natural Gas Market Natural gas prices started the week on an inclining path and continued on this path as mid-week approached. Natural gas prices finished the week on the same upward path. NYMEX prices for the prompt month ended the week at $9.15/MMBtu, up 4.09%. NYMEX Bal ‘08 closed at $9.40/MMBtu, a change of 3.94%, up $0.37/MMBtu. NYMEX Cal ‘09 finished the week at $9.06/MMBtu; NYMEX Cal ‘10 closed at $8.72/MMBtu. Algonquin, Transco Z6, and Tetco M3 prompt month basis to NYMEX closed at $1.37/ MMBtu, $1.82/MMBtu and $1.17/MMBtu. NYMEX crude prompt month prices closed at $98.81/BBL, an increase of 3.35% or $3.31 from the previous week.  Natural Gas Storage: Gas in Storage Decreased 172 Bcf Working gas in storage was 1,770 Bcf as of Friday, February 15, 2008, according to EIA estimates. This represents a net decline of 172 Bcf from the previous week. Stocks were 127 Bcf less than last year at this time and 97 Bcf above the 5-year average of 1,673 Bcf. In the East Region, stocks were 52 Bcf above the 5-year average following net withdrawals of 120 Bcf. Stocks in the Producing Region were 78 Bcf above the 5-year average of 528 Bcf after a net withdrawal of 37 Bcf. Stocks in the West Region were 32 Bcf below the 5-year average after a net drawdown of 15 Bcf. At 1,770 Bcf, total working gas is within the 5-year historical range. (Sources: EIA) 
Derek Mumford |
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