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Suez Weekly Market Monitor

Derek Mumford
Derek.mumford@suezenergyna.com
June 26, 2007

ERCOT Power
ERCOT power prices began the week decreasing, it continued down this path into mid-week. Prices ended at a lower price compared to the previous week.

ERCOT Prompt month deliveries closed at $79.32/MWh, decreasing $8.37/MWh or 10.55%.

ERCOT ‘08 finished the week at $76.17/MWh down 6.56%.

ERCOT ‘09 closed the week at $76.42/MWh down 3.47%.

The prompt month for the Houston Zone finished at $84.20/ MWh a decrease of 9.94% and the prompt month North Zone finished at $79.32/MWh down 10.55%.

NYISO-NEPOOL Power
Northeast power prices started the week decreasing and leveled off by mid-week, prices continued decreasing as the week came to an end.

Prompt month prices for the Northeast are 1% to 3% higher than 3 months ago for the same trading month.

NYISO Zone J prompt month closed the week at $120.70/ MWh decreasing $13.31/MWh, a change of 11.03%.

NYISO Zone A prompt month finished at $72.70/MWh a loss of $6.65/MWh or 9.15%.

Massachusetts NEMA prompt month closed at $87.20/ MWh a change of 12.96% or $11.30/MWh.

Massachusetts SEMA prompt month finished the week at $78.20/MWh, decreasing 14.45%.

PJM Power

PJM power prices started the week decreasing and leveled off by mid week. The week closed at a lower price compared to last week.

Cinergy prompt month finished the week at $74.70/MWh, a change of 14.91%, decreasing $11.14/MWh.

NI Hub prompt month finished the week with a loss of $10.93/MWh to close at $71.18/MWh, a change of 15.36%.

PJM West Hub prompt month lost $12.40/MWh closing at $90.70/MWh, a change of 13.67%.

PSEG prices for the prompt month closed at $112.70/MWh, a change of 11.00% or $12.40/MWh.

Compared to 3 months ago, PJM prices are 3% to 7% higher for the same trading period.

Natural Gas Market

Natural gas prices started the week at a decreasing rate and continued down this path into mid-week. Prices ended at a lower rate compared to the previous week.

NYMEX prices for the prompt month finished the week at $7.13/MMBtu a decrease of 11.05% or $0.79/MMBtu.

July 2007 prices are 1.91% higher than 3 months ago for the same delivery period.

NYMEX Bal. ‘07 closed at $7.74/MMBtu a change of 10.26%, down $0.79/MMBtu.

NYMEX Cal ‘08 finished the week at $8.65/MMBtu; NYMEX Cal ‘09 closed at $8.69/MMBtu.

Algonquin, Transco Z6, and Tetco M3 prompt month closed at $1.32/MMBtu, $1.64/MMBtu, and $1.13/MMbtu respectively.

Natural Gas Storage: Gas in Storage Increased 89 Bcf
Working gas in storage was 2,344 Bcf as of Friday, June 15, 2007, according to EIA estimates.

This represents a net increase of 89 Bcf from the previous week.

Stocks were 121 Bcf less than last year at this time and 365 Bcf above the 5-year average of 1,979 Bcf.

In the East Region, stocks were 130 Bcf above the 5-year average following net injections of 60 Bcf.

Stocks in the Producing Region were 176 Bcf above the 5-year average of 656 Bcf after a net injection of 16 Bcf.

Stocks in the West Region were 59 Bcf above the 5-year average after a net addition of 13 Bcf.

At 2,344 Bcf, total working gas is within the 5-year historical range.

(Sources: EIA)

 

Derek Mumford
Energy Analyst
Suez Energy Resources
June 26, 2007
Derek.mumford@suezenergyna.com