Suez Weekly Market Monitor
Derek Mumford
Derek.mumford@suezenergyna.com
September 7, 2007
ERCOT Power
ERCOT power prices began the week at a constant rate slightly decreased on Thursday and stayed relatively constant as the week came to an end.
ERCOT Prompt month deliveries closed at $45.00/MWh, decreasing $1.66/MWh or 3.69%.
ERCOT ‘08 finished the week at $70.21/MWh up, 0.38%.
ERCOT ‘09 closed the week at $68.88/MWh, up 1.31%.
The prompt month for the Houston Zone finished at $47.25/MWh a decrease of 3.51% and the prompt month North Zone finished at $45.00/MWh down 3.69%.RCOT power prices began the week at a constant rate slightly decreased on Thursday and stayed relatively constant as the week came to an end.
NYISO—NEPOOL Power
Northeast power prices declined as the week started.
Prices leveled at mid-week and declined slightly as the week came to an end.
Prompt month prices for the Northeast decreased by 16% to 26% compared to 3 months ago for the same trading month.
NYISO Zone J prompt month closed the week at $73.10/MWh decreasing $10.53/MWh, a change of 14.40%.
NYISO Zone A prompt month finished at $52.95/MWh, a loss of $1.65/MWh or 3.12%.
Massachusetts NEMA prompt month closed at $58.68/MWh, a decrease of 3.49% or $2.05/MWh.
Massachusetts SEMA prompt month finished the week at $57.80/MWh, decreasing 3.55% or $2.05/MWh.
PJM Power
PJM power prices started the week at a declining rate and continued on this path throughout the week.
Cinergy prompt month finished the week at $44.20/MWh, a change of 2.60%, decreasing $1.15/MWh.
NI Hub prompt month finished the week with a loss of $1.07/MWh closing at $45.84/MWh, a change of 2.33%.
PJM West Hub prompt month lost $1.40/MWh closing at $49.45/MWh, a change of 2.83%.
PSEG prices for the prompt month closed at $61.45/MWh, a change of 2.28% or $1.40/MWh.
Compared to 3 months ago, PJM prices are 18% to 21% lower for the same trading period.
Natural Gas Market
Natural gas prices increased as the week began and decreased by Midweek. The week closed with prices continuing on this declining path.
NYMEX prices for the prompt month finished the week at $5.47/MMBtu, a decrease of 4.96% or $0.27/MMBtu.
Oct. 07 prices are approximately 24% lower than 3 months ago.
NYMEX Bal. ‘07 closed at $7.68/MMBtu, a change of 1.75%, down $0.13/MMBtu.
NYMEX Cal ‘08 finished the week at $8.16/MMBtu; NYMEX Cal ‘09 closed at $8.01/MMBtu.
Algonquin, Transco Z6, and Tetco M3 prompt month closed at $1.19/MMBtu, $1.58/MMBtu, and $0.99/MMbtu respectively.
Natural Gas Storage: Gas in Storage Increased 43 Bcf
Working gas in storage was 2,969 Bcf as of Friday, August 24, 2007, according to EIA estimates.
This represents a net increase of 43 Bcf from the previous week.
Stocks were 71 Bcf higher than last year at this time and 315 Bcf above the 5-year average of 2,654 Bcf.
In the East Region, stocks were 136 Bcf above the 5-year average following net injections of 44 Bcf.
Stocks in the Producing Region were 134 Bcf above the 5-year average of 768 Bcf after a net withdrawal of 2 Bcf.
Stocks in the West Region were 45 Bcf above the 5-year average after a net addition of 1 Bcf.
At 2,969 Bcf, total working gas is above the 5-year historical range. (Sources: EIA)
Derek Mumford
Energy Analyst
Suez Energy Resources
September 7, 2007
Derek.mumford@suezenergyna.com
