Suez Weekly Market Monitor
Derek Mumford
Derek.mumford@suezenergyna.com
March 7th, 2007
ERCOT Power
ERCOT power prices decreased in the beginning of the week and slowly continued to decrease towards the end of the week, reacting to the declining natural gas market.
ERCOT Prompt month deliveries closed at $60.66/MWh, decreasing $3.93/MWh or 6.48%.
ERCOT ‘08 finished the week at $73.14/MWh down 1.55%.
ERCOT ’09 closed the week at $71.03/MWh up 1.11%.
The prompt month for the Houston Zone finished at $65.16/MWh an decrease of 6.03% and the prompt month North Zone finished at $63.66/MWh down 6.17%.
NYISO—NEPOOL Power
Northeast power prices took a small decline in the beginning of the week and stayed relatively constant.
Prompt month prices for the Northeast are 3% to 7% less than 3 months ago for the same trading month.
NYISO Zone J prompt month closed the week at $85.50/MWh decreasing $2.80/MWh a change of 3.27%.
NYISO Zone A prompt month finished at $60.00/MWh a loss of $3.25/MWh or 5.42% Massachusetts NEMA prompt month closed at $77.00/MWh a change of 3.57% or $2.75/MWh.
Massachusetts SEMA prompt month finished the week at $71.00/MWh, increasing 3.87%.
PJM Power
PJM power prices took a decline at the beginning of the week and continued to decline slightly, reacting to the natural gas prices.
Cinergy prompt month finished the week at $55.75/MWh, a change of 3.14% decreasing $1.75/MWh.
NI Hub prompt month finished up $1.90/MWh to close at $55.50/MWh, a change of 3.42%.
PJM West Hub prompt month loss $2.90/MWh closing at $62.75/MWh, a change of 4.62%.
PSEG prices for the prompt month closed at $69.75/MWh, a change of 4.16% or $2.90/MWh.
Compared to 3 months ago, PJM prices are 0% to 2% lower for the same trading period.
Natural Gas Market
Natural gas prices started the week with a slight increase and leveled off at the end of the week.
NYMEX prices for the prompt month finished the week at $7.24/MMBtu a decrease of 7.77% or $0.56/MMBtu.
March 2007 prices are 2.70% lower than 3 months ago for the same delivery period.
NYMEX Bal. ‘07 closed at $7.83/MMBtu a change of 5.75%, up $0.45/MMBtu.
NYMEX Cal ‘08 finished the week at $8.26/MMBtu; NYMEX Cal ‘09 closed at $8.02/MMBtu.
Algonquin, Transco Z6, and Tetco M3 prompt month closed at $1.35/MMBtu, $1.59/MMBtu, and $1.10/MMbtu respectively.
Natural Gas Storage: Gas in Storage Decreased 132 Bcf
Working gas in storage was 1,733 Bcf as of Friday, February 23, 2007, according to EIA estimates. This represents a net decline of 132 Bcf from the previous week.
Stocks were 263 Bcf less than last year at this time and 179 Bcf above the 5-year average of 1,554 Bcf.
In the East Region, stocks were 71 Bcf above the 5-year average following net withdrawals of 98 Bcf.
Stocks in the Producing Region were 91 Bcf above the 5-year average of 501 Bcf after a net withdrawal of 24 Bcf.
Stocks in the West Region were 16 Bcf above the 5-year average after a net drawdown of 10 Bcf. At 1,733 Bcf, total working gas is within the 5-year historical range.
(Source: EIA)
Derek Mumford
Energy Analyst
Suez Energy Resources
Derek.mumford@suezenergyna.com
