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Suez Weekly Market Monitor
Derek Mumford ERCOT on peak power prices began the week on a downward path and increased at mid-week. The week ended with prices returning to a declining path. ERCOT on peak prompt month prices finished the week at $54.32, down 18.21% or $9.89. ERCOT Bal ‘08 closed at $69.47/MWh, down 9.91%. ERCOT Cal ‘09 closed at $70.20/MWh, down 7.60%. ERCOT Cal ‘10 closed at $69.45/MWh, down 5.12%. The prompt month for the Houston Zone on peak finished at $87.32/MWh, and the prompt month North Zone on peak finished at $76.82/MWh.  NYISO—NEPOOL Power Northeast power prices started the week on an inclining path and declined at mid week. The week ended with prices declining back to its original levels. NYISO Zone J on peak prompt month closed the week at $114.48/MWh, increasing $2.90/MWh, an increase of 2.53% from last week. NYISO Zone A on peak prompt month finished at $75.57/ MWh, an increase of $0.32/MWh or 0.42%. Massachusetts NEMA on peak prompt month closed at $82.67/MWh, a decrease of 13.04% or $10.78/MWh. Massachusetts SEMA on peak prompt month finished the week at $93.99/MWh, increasing 1.39% or $1.31/MWh.  PJM Power PJM power prices started the week on a declining path. Prices continued on this path as mid-week approached and continued on this path to the end of the week. Cinergy on peak prompt month finished the week at $71.25/MWh, a decrease of 0.48% or $0.34/MWh. NI Hub on peak prompt month finished the week at $71.13/MWh, a decrease of 0.52% or $0.37/MWh. PJM West Hub on peak prompt month decreased $0.33/ MWh closing at $83.53/MWh, a change of 0.39%. PSEG on peak prices for the prompt month closed at $99.01/MWh, an increase of 1.82%, up $1.80/MWh.  Natural Gas Market N atural 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 $9.37/MMBtu, up 1.85%. NYMEX Bal ‘08 closed at $9.67/MMBtu, a change of 2.48%, up $0.24/MMBtu. NYMEX Cal ‘09 finished the week at $9.36/MMBtu; NYMEX Cal ‘10 closed at $8.98/MMBtu. Algonquin, Transco Z6, and Tetco M3 prompt month basis to NYMEX closed at $1.36/ MMBtu, $1.82/MMBtu and $1.17/MMBtu. NYMEX crude prompt month prices closed at $101.84/BBL, an increase of 2.98% or $3.03 from the previous week.  Natural Gas Storage: Gas in Storage Decreased 151 Bcf Working gas in storage was 1,619 Bcf as of Friday, February 22, 2008, according to EIA estimates. This represents a net decline of 151 Bcf from the previous week. Stocks were 133 Bcf less than last year at this time and 87 Bcf above the 5-year average of 1,532 Bcf. In the East Region, stocks were 42 Bcf above the 5-year average following net withdrawals of 100 Bcf. Stocks in the Producing Region were 77 Bcf above the 5-year average of 494 Bcf after a net withdrawal of 35 Bcf. Stocks in the West Region were 32 Bcf below the 5-year average after a net drawdown of 16 Bcf. At 1,619 Bcf, total working gas is within the 5-year historical range. (Sources: EIA) 
Derek Mumford |
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