Mid-Atlantic power prices have followed natural gas prices, which saw a 4% recovery since last week when those prices hit a 25-year low. Prices have moved up on cooler temperatures and higher demand over the balance of the month of April. Further out on the price curve, gas prices are higher as well, as the market anticipates higher demand
and lower production of natural gas once the restrictions are lifted on businesses due to COVID-19. Forward power prices in the Mid-Atlantic Region have increased about 2% on the front of the price curve (2021) and about 1% on the back end (2022-2025). Compared to the all-time lows for the 2021-2025 terms, Cal’21 through Cal’22 are 4% above their all-time lows while the back end of the curve (Cal’24/’25) are sitting 2% higher than those lows. Power demand continues to be impacted due to the current situation. Day-ahead index power prices at West Hub are averaging $16.51/MWh month-to-date, compared to the $26.22/MWh last year in April, while East Hub prices have averaged $15.60/MWh compared to $27.01/MWh last year.
Read the complete market update courtesy of Constellation.
[Holiday Closing] Good Friday
In observance of Good Friday, BOX will be closed on Friday, April 10th. The Portal will have Thursday’s matrix prices. Please note that any contracts submitted after 5PM EST on Thursday will be subject to change due to Monday’s market movement.
