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Suez Weekly Market Monitor

Derek Mumford
Derek.mumford@suezenergyna.com
July 18, 2007

ERCOT Power
ERCOT power prices briefly increased for the beginning of the week and slowly declined as mid-week approached. Prices ended at a higher mark compared to the previous week.

ERCOT Prompt month deliveries closed at $75.98/MWh, increasing $2.36/MWh or 3.11%.

ERCOT '08 finished the week at $73.16/MWh up 2.58%.

ERCOT '09 closed the week at $74.14/MWh up 2.26%.

The prompt month for the Houston Zone finished at $78.48/ MWh an increase of 1.89% and the prompt month North Zone finished at $75.98/MWh up 3.11%.

NYISO-NEPOOL Power
Northeast power prices started the week at an inclining rate and leveled off by mid-week, prices reverted back to its increasing rate as the week came to an end.

Prompt month prices for the Northeast have decreased by 7% to 12% compared to 3 months ago for the same trading month.

NYISO Zone J prompt month closed the week at $114.80/ MWh increasing $4.95/MWh, a change of 4.31%.

NYISO Zone A prompt month finished at $69.05/MWh a gain of $2.70/MWh or 3.91%.

Massachusetts NEMA prompt month closed at $78.36/ MWh a decrease of 6.37% or $4.99/MWh.

Massachusetts SEMA prompt month finished the week at $78.05/MWh, increasing 4.74%.

PJM Power

PJM power prices started the week increasing and leveled off by mid week. The week closed at a higher mark compared to last week.

Cinergy prompt month finished the week at $70.30/MWh, a change of 5.62%, increasing $3.95/MWh.

NI Hub prompt month finished the week with a gain of $3.20/MWh closing at $68.55/MWh, a change of 4.67%.

PJM West Hub prompt month gained $6.45/MWh closing at $89.80/MWh, a change of 7.18%.

PSEG prices for the prompt month closed at $111.80/ MWh, a change of 5.77% or $6.45/MWh.

Compared to 3 months ago, PJM prices are 6% to 10% lower for the same trading period.

Natural Gas Market

Natural gas prices started the week on an inclining path and dropped by mid-week. The week closed with prices reverting back to its increasing path.

NYMEX prices for the prompt month finished the week at $6.66/MMBtu an increase of 3.27% or $0.22/MMBtu.

Aug 2007 prices are 10.47% lower than 3 months ago for the same delivery period.

NYMEX Bal. '07 closed at $7.31/MMBtu a change of 2.63%, up $0.19/MMBtu.

NYMEX Cal '08 finished the week at $8.32/MMBtu; NYMEX Cal '09 closed at $8.44/MMBtu.

Algonquin, Transco Z6, and Tetco M3 prompt month closed at $1.27/MMBtu, $1.59/MMBtu, and $1.09/MMbtu respectively.

Natural Gas Storage: Gas in Storage Increased 106 Bcf
Working gas in storage was 2,627 Bcf as of Friday, July 6, 2007, according to EIA estimates.

This represents a net increase of 106 Bcf from the previous week.

Stocks were 64 Bcf less than last year at this time and 374 Bcf above the 5-year average of 2,253 Bcf.

In the East Region, stocks were 145 Bcf above the 5-year average following net injections of 70 Bcf.

Stocks in the Producing Region were 175 Bcf above the 5-year average of 721 Bcf after a net injection of 29 Bcf.

Stocks in the West Region were 54 Bcf above the 5-year average after a net addition of 7 Bcf.

At 2,627 Bcf, total working gas is within the 5-year historical range.

 

Derek Mumford
Energy Analyst
Suez Energy Resources
July 18, 2007
Derek.mumford@suezenergyna.com