Weekly Power Outlet US - 2024 - Week 44
Market Data, PJM Capacity
Energy Market Update Week 44, brought to you by Acumen.
For More Updates Like This, Subscribe Here!While the calendar says November, the forecast doesn't. Much of the country enjoyed above seasonal weather and it is reflected in the electricity prices. Natural gas continues to trade sideways as the EIA number this week showed an injection of 69 Bcf pushing the net to 3,932 Bcf. As shown in the chart below, we are getting to seasonal points on the calendar where storage begins to draw down. Looking at the forecast for cold, it might be a touch longer.
In the ongoing saga that is the PJM capacity market, FERC this week approved a request from PJM to not include energy efficiency in the capacity auctions. This follows an ongoing complaint by the PJM Market Monitor that has stated that energy efficiency should not be paid in the resources like capacity resources. In August the stake holders agreed with the Market Monitor and requested that FERC rule on this before the next capacity auction. As a reminder, PJM has moved its next capacity auction from December to next year to clear some issues, including this one. As usual Utility Dive gives a good recap of this ruling.
NOAA WEATHER FORECAST
DAY-AHEAD LMP PRICING & SELECT FUTURES
RTO ATC, PEAK, & OFF-PEAK CALENDAR STRIP
DAILY RTO LOAD PROFILES
COMMODITIES PRICING
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