Message-ID: <11520441.1075858410420.JavaMail.evans@thyme> Date: Thu, 17 May 2001 08:34:00 -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" X-To: (undisclosed-recipients) X-cc: X-bcc: X-Folder: \Scott_Neal_Jun2001\Notes Folders\Discussion threads X-Origin: Neal-S X-FileName: sneal.nsf 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 05/17 Bloomberg Daily Power Report Table Bloomberg U.S. Regional Electricity Prices ($/MWh for 25-50 MWh pre-scheduled packages, excluding transmission= =20 costs) On-Peak West Coast Index Change Low High Mid-Columbia 153.60 +3.60 145.00 160.00 Ca-Or Border 162.60 +22.60 160.00 166.00 NP15 163.21 +9.79 160.00 165.00 SP15 128.60 -11.07 120.00 137.00 Ault Colorado 145.00 +20.00 120.00 137.00 Mead 130.00 -20.00 129.00 131.00 Palo Verde 141.67 -9.25 135.00 150.00 Four Corners 139.00 -8.50 138.00 140.00 Mid-Continent ECAR 40.51 -4.93 38.29 43.14 East 41.00 -3.50 40.00 42.00 AEP 40.50 -6.50 38.00 42.00 West 38.67 -5.83 37.00 41.00 Central 39.96 -6.29 38.00 45.00 Cinergy 39.96 -6.29 38.00 45.00 South 41.50 -3.07 36.00 44.00 North 42.00 -3.00 41.00 43.00 Main 40.71 -5.50 38.50 43.50 Com-Ed 37.96 -5.79 36.00 40.00 Lower 43.46 -5.21 41.00 47.00 MAPP 45.53 -6.97 43.50 47.00 North 45.00 -7.00 43.00 46.00 Lower 46.06 -6.94 44.00 48.00 Gulf Coast SPP 46.50 -3.63 46.00 48.00 Northern 47.00 -4.00 46.00 48.50 ERCOT 52.00 -1.50 48.00 52.00 SERC 46.55 -1.22 43.68 48.60 Va Power 39.00 -3.00 38.00 40.00 VACAR 45.55 -2.78 45.00 48.00 Into TVA 41.50 -3.07 36.00 44.00 Out of TVA 45.18 -3.10 39.51 46.21 Entergy 48.43 -1.30 45.25 52.00 Southern 43.50 -4.25 42.00 45.00 Fla/Ga Border 62.67 +8.92 60.00 65.00 FRCC 68.00 +10.50 62.00 74.00 East Coast NEPOOL 50.20 -0.30 48.25 51.50 New York Zone J 58.13 +2.13 57.50 58.75 New York Zone G 52.50 +3.25 51.75 53.50 New York Zone A 41.50 +4.25 41.25 41.75 PJM 39.40 +0.60 38.50 40.50 East 39.40 +0.60 38.50 40.50 West 39.40 +0.60 38.50 40.50 Seller's Choice 38.90 +0.60 38.00 40.00 End Table Northwest Spot Electricity Prices Rise With Reduced Snowmelt Portland, Oregon, May 17 (Bloomberg Energy) -- Peak spot power prices for Friday-Saturday delivery in the Pacific Northwest increased as less snowmelt and river runoff was available for hydroelectric generation, traders said. A Bloomberg report shows accumulated precipitation in the Western U.S. at 30.33 percent below typical levels and the snow water equivalent for the region at 64.25 percent below average. At the Mid-Columbia trading point in Washington, the Bloomberg index increased $24.82 from yesterday to $153.60 a megawatt hour, with trades executed between $145.00-$160.00. "The rain has stopped in the Northwest, and unlike the snowmelt and the river run-off we had yesterday, it's beginning to slow down,'' said one Northwest trader. At the California Oregon Border, day-ahead peak power gained $22.60 to a Bloomberg index of $162.60, selling in a range of $160.00-$166.00. According to Weather Services Corp. of Lexington, Massachusetts, temperatures in Astoria, Oregon, were expected to reach 57 degrees Fahrenheit today, increasing tomorrow 2 degrees to 59 degrees. "Northwest power prices are also rising with (the) Colstrip unit down,'' said one Northwest marketer. Pennsylvania Power and Light Co.'s 700-megawatt Colstrip-3 coal-fired plant located in Colstrip, Montana, shut yesterday for unplanned maintenance and is expected to restart tomorrow. At the NP-15 delivery point, peak power traded at $160.00- $165.00, rising $9.79. Traders said power prices will likely increase over the next few days as snowmelt continues to lessen and higher temperatures are expected. According to Belton, Missouri-based Weather Derivatives Inc., temperatures are expected to average 4.4 degrees Fahrenheit above normal in the Pacific Northwest and 2.7 degrees above normal in the Southwest 6-10 days from now. -Robert Scalabrino Most Northeast Spot Power Prices Remain Steady With Low Demand Philadelphia, May 17 (Bloomberg Energy) -- Values for next- day delivery of peak power remained little changed throughout most of the Northeast U.S. as moderate temperatures continue to curb regional load requirements, traders said. In the Pennsylvania-New Jersey-Maryland Interconnection, peak power scheduled for Friday delivery was assessed at a Bloomberg volume-weighted index of $39.40 per megawatt hour, up only 60 cents from yesterday. "This is the annual calm before the storm," said one PJM- based trader. "Prices are right where they should be for this time of year, barring any unforeseen unit outages or sustained heat waves, of course." Power scheduled for Friday delivery during this week last year was valued at $36.50, representing an 8.2 percent departure from today's comparative index. In the over-the-counter market, expectations for increased supply and scant cooling demand further eroded next-week prices. The five-day package was discussed at $38.29-39.25, compared to $42.50-$43 yesterday. According to Weather Derivatives Corp. of Belton, Missouri, temperatures in the Northeast will average 1.1 degree Fahrenheit below normal May 21-May 25. Day-ahead values in the New England Power Pool were also little changed at an index price of $51.50. Traders cited heavy volume in the $51.50-$52.00 range, with an intra-day low and high of $49.75 and $53.00, respectively. Next-week packages remained steady as well, as scheduled line maintenance offset price reactions to the anticipated restart of Entergy Corp.'s Pilgrim 1 nuclear unit. Data from the Independent System Operator of New England shows the Alps-New Scotland transmission line that transmits power to and from New York will be shut May 21-May 24 for breaker repairs. New York was the Northeast's anomaly, with next-day values trading higher across all three zones because of unit outages. Zone A jumped $4.25 to an index of $43.00, while Zones G and J posted increases of $3.25 and $2.13, respectively, to $54.00 and $58.13 indices. Niagara Mohawk's 1,148-megawatt Nine Mile Point 2 nuclear unit shut automatically yesterday due to a turbine trip. The company is investigating the cause and hasn't released an expected restart date. Mirant Corp. also lost a unit unexpectedly, its 447-megawatt Tomkins Cove plant, following a boiler explosion. The plant is located 25 miles north of New York City and is fueled by coal, natural gas and oil. Company officials told Bloomberg the unit will remain in shutdown until the cause of the explosion has been determined. -Karyn Rispoli ECAR Power Prices Fall as Squeeze Ends; MAIN, MAPP Also Drop Cincinnati, May 16 (Bloomberg Energy) -- U.S. Mid-Continent next-day power prices declined as traders finished covering short sales in the East Central Area Reliability Council and cooler weather moved into the Midwest, traders said. ECAR traders said prices fell across the region as the Cinergy hub market returned to levels seen before yesterday's "short squeeze," where many market participants had to buy power to fulfill requirements from prior sales. The Bloomberg index price for power delivered Friday into the Cincinnati-based Cinergy Corp. transmission system fell $6.29 to $39.96 a megawatt-hour, with trades ranging from $42.00 down to $38.00 after options expiration. "There was still plenty of volume, and plenty of demand from the South," one ECAR trader said. "The drop was just a return to more fundamentally-based prices after yesterday's short squeeze went as far as it could go." Over-the-counter prices at Cinergy continued to decline after a bearish injection report from the American Gas Association drove natural gas futures prices down further and weather forecasts were revised cooler for next week. Peak Cinergy parcels for delivery from May 21-25 sold at $35.00, down $5.00 from yesterday, while offers fell to $62.00 for June power and $95.00 for July-August parcels, the lowest level seen this year. In the Mid-America Interconnected Network, day-ahead power prices dropped as temperatures were expected to do the same, with peak parcels selling $5.79 less on average at $36.00-$40.00 at the Chicago-based Commonwealth Edison hub and $5.21 less on average at $41.00-$47.00 in the lower half of the region. Lexington, Massachusetts-based Weather Services Corp. predicted high temperatures in Chicago would fall from 84 degrees Fahrenheit today to 75 degrees tomorrow. Mid-Continent Power Pool next-day electricity prices also fell, as cooler weather reduced demand and lessened transmission constraints, traders said. Peak power sold $7.00 less at $43.00-$46.00 in northern MAPP and $6.94 less at $44.00-$48.00 in the southern half of the region. Weather Services forecast tomorrow's high temperature in the low-to-mid 70s degrees across MAPP, down from temperatures in mid-80s to low-90s degrees earlier this week. -Ken Fahnestock Most Southeast Power Prices Drop as Cooler Weather Dominates Topeka, Kansas, May 17 (Bloomberg Energy) -- U.S. Southeast spot electricity prices were mostly lower today as cooler weather was projected to move through the region tomorrow, traders said. The Bloomberg Southeast Electric Reliability Council regional index price fell an average of $2.30 a megawatt-hour, or 4.8 percent from equivalent trades made yesterday for delivery today, to $45.47, amid trades in the $36.00-$65.00 range. "We're going to have a 15 degree (Fahrenheit) temperatures change from today to tomorrow if the forecasts are right," said one Southwest Power Pool utility trader. "Because quite a few units are coming back from maintenance, next week's really going to soften up." Forecasters from Lexington, Massachusetts-based Weather Services Corp. predicted daily high temperatures in the Topeka vicinity would peak tomorrow at 71 degrees Fahrenheit, off from today's projected high of 84 degrees. In the Tennessee Valley, traders said expected high temperatures will decline about 1-3 degrees through tomorrow, cutting residential and commercial power demand for air cooling. On the Tennessee Valley Authority grid, the Bloomberg peak next-day index price slid $3.07 to $41.50 amid trades in the $36.00-$44.00 range. Off-peak energy was discussed at $16-$18, $2 higher on cooler expected overnight weather. Utility traders in the Virginia-Carolinas region said that recent warm weather would continue through tomorrow and the weekend, though temperatures would start out cooler through the first half of next week. The Bloomberg VACAR index fell an average of $2.58 to $45.55 amid trades at $45.00-$48.00. According to Belton, Missouri-based Weather Derivatives Inc., cooling demand across the Southeast was expected to average about a half degree above normal over the next week, though temperatures could average 4.1 degrees below normal over the next 6-10 days. -Brian Whary U.K. Power Prices Little Changed in Lackluster Trade London, May 17 (Bloomberg Energy) -- Power prices in the U.K. were little changed today amid lethargic activity, traders said. June traded 10 pence higher at 18.45 pounds a megawatt-hour. July traded 10 pence lower at 18.30 pounds a megawatt-hour. Activity was "directionless" today amid little new information to trade on, traders said. Although many power plants have scheduled outages over the coming months for maintenance, one trader said price gains were offset by sufficient supply in the market. Winter 2001 baseload traded 15 pence higher than yesterday following trades at 21.52 pounds a megawatt-hour. Day-ahead baseload started trade at 18.50 pounds a megawatt- hour, 65 pence lower than yesterday. Day-ahead peak traded at 22.00 pounds a megawatt-hour, 40 pence lower than yesterday. -Amal Halawi Nordic Electricity Prices Close Higher on Elevated Spot Value Lysaker, Norway, May 16 (Bloomberg Energy) -- Electricity prices on the Nordic Power Exchange in Lysaker, Norway, rose in active afternoon trade after generators set tomorrow's spot price above expectations, traders said. Participants rushed to close positions ahead of a Norwegian holiday tomorrow that will keep the market closed. Nordpool is scheduled to re-open on Friday. Winter-2, 2001 jumped 1.75 kroner a megawatt-hour to close at a record high of 218.25 kroner a megawatt-hour with 449.00 megawatts exchanged. Winter-1, 2002 gained 2.10 kroner after 166.00 megawatts traded between 216.00-218.75 kroner a megawatt- hour. Although industrial end-user demand was anticipated to drop tomorrow as Norway celebrates Constitution Day, Thursday's system area average price was set at 195.41 kroner a megawatt-hour, more than 10 kroner above traders' expectations of 185.00 kroner a megawatt-hour and down 2.97 kroner from today's price. Producers in western Norway retained control over inflowing molten snow, pushing prices higher, an Oslo-based trader said. The minimum hourly spot price in Trondheim, Norway was set at 190.88 kroner a megawatt-hour, only 4.53 kroner lower than the system area average price. Nordpool reported an expected 2.5 percent increase in Norwegian reservoirs to 34.7 percent of total capacity at the end of week 19 from the previous week, compared to 49.9 percent of total capacity a year ago. In Sweden, reservoirs were up 7.9 percent to 33.2 percent of total capacity, beating expectations of a 5.2 percent gain. Snowmelt in Norway was likely to peak in the next ten days, delaying water tank refilling, while in Sweden it peaked last week, traders said. Limited snow accumulation in the important hydro-producing region of western Norway has also minimized the effect of anticipated supply increases. In the shorter-term, week 21 closed 1.50 kroner higher at 195.00 kroner a megawatt-hour after a total 286.00 megawatts traded as low as 190.75 kroner a megawatt-hour. Week 22 jumped 5.00 kroner a megawatt-hour to 204.00 kroner a megawatt-hour. Total volumes more-than-quadrupled in afternoon trade to 3,717 gigawatt-hours generation compared to this morning's 738 gigawatt-hours. -Alejandro Barbajosa -0- (BES) May/17/2001 19:21 GMT =0F$ - daily.pdf