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Suez Weekly Market Monitor
Derek Mumford ERCOT power prices began the week on a steady path and increased as midweek approached. The week ended with prices slightly declining. ERCOT prompt month finished the week at $51.63, up 2.30% or $1.19. ERCOT ‘Cal ‘08 closed at $64.30MWh, down 0.06%. ERCOT ‘Cal ‘09 closed at $63.95/MWh, down 0.04%. ERCOT ‘Cal ‘10 closed at $62.27/MWh, down 0.03%. The prompt month on peak for the Houston Zone finished at $55.21/MWh, and the prompt month North Zone on peak finished at $51.63/MWh.  NYISO—NEPOOL Power Northeast power prices started the week on a steady path and increased as mid week approached. The week ended with power prices moving downwards. NYISO Zone J on peak prompt month closed the week at $116.25/MWh increasing $6.20/MWh, an increase of 5.33% from last week. NYISO Zone A on peak prompt month finished at $81.00/ MWh, an increase of $2.20/MWh or 2.72%. Massachusetts NEMA on peak prompt month closed at $93.47/MWh, a decrease of 23.71% or $22.16/MWh. Massachusetts SEMA on peak prompt month finished the week at $104.47/MWh, decreasing 6.90% or $7.21/MWh.  PJM Power PJM power prices started the week on a steady path and decreased slightly at mid week. The week closed with prices continuing on a decreasing path. Cinergy on peak prompt month finished last week at $60.75/MWh, a change of 1.44%, decreasing $0.88/MWh. NI Hub on peak prompt month finished the same week with a decrease of $2.08/MWh closing at $60.60/MWh, a change of -3.43%. PJM West Hub on peak prompt month decreased $1.74/ MWh closing at $73.08/MWh, a change of –2.38%. PSEG on peak prices for the prompt month closed at $85.26/MWh, a change of 2.04%, down $1.74/MWh.  Natural Gas Market Natural gas prices started the week on an inclining path and peaked at midweek. Natural gas prices finished the week moving on a downward path. NYMEX prices for the prompt month finished the week at $7.03/MMBtu. NYMEX Cal ‘08 closed at $7.45/MMBtu, a change of -1.05%, down $-0.08/MMBtu. NYMEX Cal ‘09 finished the week at $8.18/MMBtu; NYMEX Cal ‘10 closed at $8.25/MMBtu. Algonquin, Transco Z6, and Tetco M3 prompt month basis to NYMEX closed at $1.18/ MMBtu, $1.69/MMBtu and $1.01/MMBtu. NYMEX crude prompt month prices closed at $91.27/BBL, a change of +3.28% or +$2.99 from the previous week.  Natural Gas Storage: Gas in Storage Decreased 146 Bcf Working gas in storage was 3,294 Bcf as of Friday, December 7, 2007, according to EIA estimates. This represents a net decline of 146 Bcf from the previous week. Stocks were 32 Bcf higher than last year at this time and 259 Bcf above the 5-year average of 3,035 Bcf. In the East Region, stocks were 61 Bcf above the 5-year average following net withdrawals of 101 Bcf. Stocks in the Producing Region were 145 Bcf above the 5-year average of 865 Bcf after a net withdrawal of 35 Bcf. Stocks in the West Region were 52 Bcf above the 5-year average after a net drawdown of 10 Bcf. At 3,294 Bcf, total working gas is above the 5-year historical range. (Sources: EIA) 
Derek Mumford |
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