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Suez Weekly Market Monitor

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

ERCOT Power
ERCOT power prices began the week on a steady path and increased slightly at mid-week. Prices reverted to its original levels as the week came to an end.

ERCOT Prompt month deliveries closed at $53.45/MWh, increasing $2.62/MWh or 4.90%.

ERCOT 09 finished the week at $67.70/MWh down, 1.16%.

ERCOT 10 closed the week at $64.77/MWh, down 0.81%.

The prompt month for the Houston Zone finished at $57.13/ MWh an increase of 6.26% and the prompt month North Zone finished at $54.84/MWh up 2.30%.

NYISO-NEPOOL Power
Northeast power prices started the week on a steady path and increased slightly at midweek. Prices returned to its original levels as the week came to an end.

Prompt month prices for the Northeast decreased by 10% to 18% compared to 3 months ago for the same trading month.

NYISO Zone J prompt month closed the week at $78.70/ MWh increasing $2.15/MWh, a gain of 2.73% from last week.

NYISO Zone A prompt month finished at $58.61/MWh, a gain of $1.31/MWh or 2.24%.

Massachusetts NEMA prompt month closed at $63.81/ MWh, an increase of 1.61% or $1.03/MWh.

Massachusetts SEMA prompt month finished the week at $62.93/MWh, increasing 1.64% or $1.03/MWh.

PJM Power
PJM power prices started the week on a steady path and increased slightly at mid week. The week closed with prices decreasing slightly.

Cinergy prompt month finished the week at $48.72/MWh, a change of 4.76%, increasing $2.32/MWh.

NI Hub prompt month finished the week with a gain of $1.35/MWh closing at $47.60/MWh, a change of 2.84%. PJM West Hub prompt month gained $3.73/MWh closing at $57.23/MWh, a change of 6.52%.

PSEG prices for the prompt month closed at $69.23/ MWh, a change of 5.39%, up $3.73/MWh.

Compared to 3 months ago, PJM prices are 8% to 10% lower for the same trading period.

Natural Gas Market
Natural gas prices started the week on an increasing rate and declined at midweek.

The week closed with prices gradually rising back to its initial levels.

NYMEX prices for the prompt month finished the week at $6.44/MMBtu, an increase of 6.68% or $0.43/MMBtu.

Nov. 07 prices are approximately 13% lower than 3 months ago.

NYMEX Cal. 08 closed at $7.93/MMBtu, a change of 1.46%, down $0.12/MMBtu.

NYMEX Cal 09 finished the week at $8.24/MMBtu; NYMEX Cal 10 closed at $8.08/MMBtu.

Algonquin, Transco Z6, and Tetco M3 prompt month closed at $1.10/MMBtu, $1.39/MMBtu, and $0.93/MMbtu respectively.

Natural Gas Storage: Gas in Storage Increased 73 Bcf
Working gas in storage was 3,336 Bcf as of Friday, October 5, 2007, according to EIA estimates. This represents a net increase of 73 Bcf from the previous week.

Stocks were 44 Bcf less than last year at this time and 237 Bcf above the 5-year average of 3,099 Bcf.

In the East Region, stocks were 91 Bcf above the 5-year average following net injections of 43 Bcf.

Stocks in the Producing Region were 118 Bcf above the 5-year average of 870 Bcf after a net injection of 23 Bcf.

Stocks in the West Region were 29 Bcf above the 5-year average after a net addition of 7 Bcf.

At 3,336 Bcf, total working gas is within the 5-year historical range.

(Sources: EIA)

 

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



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