Message-ID: <22970197.1075845267914.JavaMail.evans@thyme> Date: Fri, 1 Jun 2001 12:35:18 -0700 (PDT) From: messenger@ecm.bloomberg.com Subject: Bloomberg Power Lines Report Mime-Version: 1.0 Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: quoted-printable X-From: "Bloomberg.com" @ENRON X-To: (undisclosed-recipients)@ENRON X-cc: X-bcc: X-Folder: \Neal, Scott\Neal, Scott\Deleted Items X-Origin: NEAL-S X-FileName: Neal, Scott.pst Here is today's copy of Bloomberg Power Lines. Adobe Acrobat Reader is required to view the attached pdf file. You can download a free version of Acrobat Reader at http://www.adobe.com/products/acrobat/readstep.html If you have trouble downloading the attached file it is also located at http://www.bloomberg.com/energy/daily.pdf Don't forget to check out the Bloomberg PowerMatch West Coast indices, the most accurate indices anywhere. Index values are calculated from actual tra= des and can be audited by all PowerMatch customers. 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Bloomberg Energy Department 06/01 Bloomberg Daily Power Report Table Bloomberg U.S. Regional Electricity Prices ($/MWh for 25-50 MWh pre-scheduled packages, excluding transmission c= osts) On-Peak West Coast Index Change Low High Mid-Columbia 168.13 +18.13 160.00 175.00 Ca-Or Border 160.00 +20.00 160.00 170.00 NP15 159.82 +10.89 160.00 175.00 SP15 160.71 +10.80 130.00 185.00 Ault Colorado 132.50 -4.17 130.00 185.00 Mead 186.00 +1.00 180.00 192.00 Palo Verde 187.41 +12.45 175.00 215.00 Four Corners 178.33 +4.04 170.00 185.00 Mid-Continent ECAR 21.84 +1.49 19.86 23.86 East 24.00 +1.00 23.00 25.00 AEP 21.75 +1.25 18.50 24.00 West 20.67 +2.34 19.00 22.00 Central 19.64 +1.04 17.00 22.00 Cinergy 19.64 +1.04 17.00 22.00 South 23.70 +2.95 21.50 28.00 North 23.50 +0.83 23.00 24.00 Main 21.05 +1.74 18.50 23.00 Com-Ed 20.67 +2.61 19.00 23.00 Lower 21.43 +0.87 18.00 23.00 MAPP 21.91 +1.27 18.25 23.50 North 21.13 +0.13 17.50 23.00 Lower 22.70 +2.41 19.00 24.00 Gulf Coast SPP 23.13 +1.63 22.00 25.00 Northern 19.25 -0.25 18.00 22.00 ERCOT 38.00 +1.25 37.00 39.00 SERC 29.29 +1.22 27.97 31.22 Va Power 25.50 +3.00 25.00 26.00 VACAR 27.50 +5.00 26.50 28.50 Into TVA 23.70 +2.95 21.50 28.00 Out of TVA 27.58 +3.03 25.31 32.02 Entergy 28.00 +1.21 27.00 28.50 Southern 34.75 +3.35 33.00 36.00 Fla/Ga Border 38.00 -10.00 37.50 39.50 FRCC 40.00 -23.33 39.00 41.00 East Coast NEPOOL 37.50 +1.60 37.25 37.75 New York Zone J 53.00 +6.00 50.50 55.50 New York Zone G 45.75 +3.50 45.50 46.00 New York Zone A 33.50 +3.00 33.25 33.75 PJM 25.51 +1.88 24.75 26.50 East 25.51 +1.88 24.75 26.50 West 25.51 +1.88 24.75 26.50 Seller's Choice 25.01 +1.88 24.25 26.00 End Table Western Spot Power Prices Rise With Weekend Risk Premium Los Angeles, June 1 (Bloomberg Energy) -- Western day-ahead power prices traded higher because of risk premiums, traders said. The Bloomberg Mid-Columbia day-ahead heavy load index price increased an average of $18.13 a megawatt-hour to $168.13 amid trades at $160.00-$175.00. Light-load energy sold at $100.00- $110.00, an average of $30.56 more than equivalent trades made yesterday for delivery today. Traders said that power prices typically rise on Friday because Monday begins a new week and demand for energy increases. "Prices also increase because there is some uncertainty of what could happen over the next three days, a unit might trip or the weather could suddenly change,'' said one Northwest trader. In the Southwest, power prices climbed an average of $12.45 at the Palo Verde switchyard to a Bloomberg average of $1187.41 amid trades in the $175.00-$215.00 range. Temperatures in Phoenix were forecast to reach 105 degrees on Sunday and increasing two degrees to 107 degrees on Monday. Traders said this should keep power prices elevated at Palo Verde and at the Four Corners trading point in New Mexico. Four Corners heavy load energy traded at a Bloomberg average of $178.33, gaining $4.04 more than yesterday. According to Belton, Missouri-based Weather Derivatives Inc., forecast temperatures in the Pacific Northwest would average 4.0 degrees above normal over the next 6-10 days and 2.9 degrees above normal in the Southwest. -Robert Scalabrino Northeast Spot Power Prices Rise With Natural Gas, Weekend Risk Philadelphia, June 1 (Bloomberg Energy) -- Following a two- week decline driven primarily by mild temperatures and healthy generation levels, day-ahead power prices in the Northeast U.S. rebounded this morning amid rising fuel costs and weekend risk premiums. Traders said natural gas futures on the New York Mercantile Exchange were "hardly bullish, but enough to spark a slight turn- around" in the power market. As of 1 p.m. local time, the Henry Hub front-month contract traded as high as $4.000 per million British thermal units, which is 8.6 cents greater than yesterday's close, yet 94.9 cents below the contract's three-month historical average. "At this time of year, when generation is plentiful and weather is a non-issue, power prices will jump on the most insignificant of news," said one Northeast trader. "These [natural] gas prices don't pose any threat, they just lend some fundamental justification for a run-up." Peak power scheduled for Monday delivery to the Western Hub of the Pennsylvania-New Jersey-Maryland Interconnection was assessed $1.88 higher, at a Bloomberg volume-weighted index of $25.51 per megawatt hour. While up on the day, next-day values remain $18.75, or 42.4 percent, below the three-month historical mean. In the New York Power Pools, next-day power prices climbed as a function of weekend risk premiums. Traders said generators typically place higher bids for Monday power because of the uncertainties associated with speculating weather and load forecasts 3 days in advance. Zone J was discussed at $53.00, though no trades were reported. Zones A and G jumped $3.00 and $3.50, respectively, to $35.00 and $47.25 indices. -Karyn Rispoli Southern Demand, Forwards Drive Midwest Spot Power Prices Up Cincinnati, June 1 (Bloomberg Energy) -- Prices rose today for peak power delivered Monday in the Mid-Continent U.S. in line with short-term over-the-counter values and demand from the South, traders said. The Bloomberg index price for power delivered Friday into the Cincinnati-based Cinergy Corp. transmission system climbed $1.04 to $19.64 a megawatt-hour, with trades ranging from $22.00 when the market opened to $17.00 after options expired. "When the bal(ance of)-week market came out at $23-$24, people tried to hold the dailies up at that level," an ECAR trader said. "There just weren't any fundamentals there to support the market though, so it crashed." In its seven-day forecast, Belton, Missouri-based Weather Derivatives Inc. predicted high temperatures would average 7 degrees Fahrenheit below normal in Cincinnati. Traders said they expected cool weather to keep prices in the low-$20 range through next week, while uncertain weather forecasts limited price movement and activity in over-the-counter contracts. "Weather forecasters are having trouble predicting things three days out, let alone 30. Nobody wants to take any serious positions because of it," one trader said. In Mid-America Interconnected Network trading, for-Monday power at the Chicago-based Commonwealth Edison hub sold $2.61 higher on average at $19.00-$23.00 as exports to the west increased, traders said. Power in the lower half of the region sold 87 cents higher at $18.00-$23.00, also boosted by exports. In the Mid-Continent Area Power Pool, traders said prices in northern areas were little changed with stable temperatures, rising 13 cents on average to $17.50-$23.00, while southern MAPP spot prices climbed $2.41 to $19.00-$24.00 with demand from the Southwest Power Pool. Peak Monday power in SPP sold at $18.00-$28.00, up $1.63 on average from yesterday. "A little bit of stuff going south is all that propped things up today," a MAPP trader said. "With things this cool though, we're not going to see much of a market anytime soon. Heck, I had to use the heater in my car this morning." -Ken Fahnestock Most Southeast Power Prices Rise Amid Weekend Risk, Weather Atlanta, June 1 (Bloomberg Energy) - U.S. Southeast spot electricity prices for delivery Monday were mostly higher today because sellers expected a premium price to sell power three days in advance, traders said. Peak power for Monday delivery into the Tennessee Valley Authority transmission grid traded at $21.50-$28.00 a megawatt hour, with a Bloomberg index rising $2.95 from yesterday to $23.70. "Prices are rising because it's a typical Monday, prices usually fall on the weekend because of businesses and schools closed, and then trade higher for Monday with everything re- opening,'' said one Southeast marketer. In the Nashville, Tennessee area, temperatures that were to reach 73 degrees Fahrenheit today, were expected to rise to 82 degrees for Monday. The Bloomberg Southeast regional average price gained 56 cents from yesterday to a Bloomberg index of $28.63 amid trades at $21.50-$39.50. Traders said that Entergy was purchasing power from the Southwest Power Pool and paying premium prices because of transmission constraints along with zero availability transmission capacity. In the Southern section of the Southwest Power Pool, trades for Southern SPP increased $3.50 to a Bloomberg index of $27.00, with sales completed at Entergy between $26.00-$28.00. Forecasters call for temperatures in the Southeast to average about 1.9 degrees Fahrenheit below normal over the next seven days. On the New Orleans-based Entergy Corp. grid, peak power for Monday traded between $27.00-$28.50, and averaged $28.00, $1.21 higher than yesterday. "Power prices next week will depend on what the weather related demand is,'' said one Southeast marketer. In the Virginia-Carolina region, peak power increased $5.00 to a Bloomberg index of $27.50, with trades completed between $26.50-$28.50. -Robert Scalabrino U.K. Short-Term Power Prices Fall on Increased Selling London, June 1 (Bloomberg Energy) -- U.K. power prices tumbled in lackluster trade today as participants sold contracts deemed over-valued, traders said. July baseload traded 20 pence lower following trades at 17.55 pounds a megawatt-hour. August baseload traded at 17.60 pounds a megawatt-hour, 25 pence lower than yesterday. "If you've got day-ahead trading at 17 pounds in May, then people are thinking July and August are definitely over-priced," one trader said. Participants, unsure of new price levels following the New Electricity Trading Arrangements sold the summer month contracts today as they compared them to lower day-ahead and week-ahead prices, traders said. Day-ahead baseload for Monday last traded at 17 pounds a megawatt-hour, 1 pound lower than yesterday. The contract fell on expectations temperatures, expected to fall over the weekend, would begin to rise again on Monday, stifling heating demand, traders said. Week 23 traded 70 pence lower than yesterday following trades at 17 pounds a megawatt-hour. Traders said the Sizewell B power plant restart delay had little impact on prices amid sufficient supply. -Amal Halawi Nordic Power Prices Gain Ahead of Holiday in Limited Trade Lysaker, Norway, June 1 (Bloomberg Energy) -- Electricity prices on the Nordic Power Exchange in Lysaker, Norway, rose today as participants purchased power in order to cover their contracted requirements ahead of the long-weekend Whit holiday on Monday, traders said. Week 23 closed at 206.18 Norwegian kroner a megawatt-hour, gaining 2.18 after 297 megawatts traded. Week 24 jumped 3.5 kroner to 210.50 kroner a megawatt-hour with 202 megawatts exchanged. Prices rose as participants bought contracts in an attempt to close positions and minimize the risk of changing weather conditions over the long-weekend, traders said. Scandinavian rainfall was forecast to remain above average over the next 5 days, according to Weather Services Corp. in the U.S. Still, worries about limited hydro-supply persist following scarce snow accumulation and melting this year, traders said. Saturday's system area average price was set at 188.71 kroner a megawatt-hour, 17.89 kroner lower than today's spot price, because of lower industrial demand over the weekend. Traders said the price was in line with expectations. Winter-2, 2001 rose 0.65 kroner to 220.25 kroner a megawatt- hour after 89.00 megawatts were sold. Winter-1, 2002 jumped 1.25 kroner to 222.25 kroner a megawatt-hour. Traded volumes on Nordpool rose to 1,292 gigawatt-hours generation today from 1,030 gigawatt-hours yesterday. Still, activity was lackluster, traders said as many participants were away from their trading desks ahead of Monday's holiday. The Nordpool Exchange will be closed on Monday June 4 and is scheduled to reopen on Tuesday. -Amal Halawi -0- (BES) Jun/01/2001 19:17 GMT =04 - daily.pdf