Energy Market Report
Oct 21, 2024Recent Developments in Today’s Market
Bullish – Bearish statement provided by AEP Energy Trading
October 21st – Markets kicked off the week on a high note, buoyed by the anticipation of upcoming wholesale power auctions. But, as the day wore on, disappointing liquidations took their toll. Power prices took a significant hit, closing the day in the red.
October 18th – As we headed into the weekend, markets continued their downward trend. Unseasonably warm temperatures are expected to stick around through the end of the month. This mild weather, coupled with robust wind and solar production, kept power prices notably low today.
MISO/PJM Hourly Day-Ahead LMP
Source: LMP data courtesy of MISO and PJM; used with permission
*Graphs are for illustrative purposes only; LMPs priced in Central Prevailing Time (CPT)
MISO/PJM Monthly Historical Around-the-Clock (ATC) LMP
Source: LMP data courtesy of MISO and PJM; used with permission
AD Hub Electricity vs. Henry Hub Natural Prices
Source: AEP Energy internal estimates
*Graph is for illustrative purposes only; AD Hub priced in Eastern Standard Time (EST)
Historic Trend Analysis by Commodity
AEP – DAYTON (AD) Hub Around-the-Clock (ATC)
Source: AEP Energy internal estimates
*Graph is for illustrative purposes only. AD Hub priced in Eastern Standard Time (EST)
AD Hub ATC Forward Price Trend Analysis
*Percentile rank from historicals represents the relation of current price and how it compares to historical pricing. For Calendar 2026, 68.6% indicates that the current price is lower than 31.4% of historical pricing dating back to July 2017.
AEP – DAYTON (AD) Hub On-Peak
Source: AEP Energy internal estimates
AD Hub On-Peak Forward Price Trend Analysis
*Percentile rank from historicals represents the relation of current price and how it compares to historical pricing. For Calendar 2026, 67.6% indicates that the current price is lower than 32.4% of historical pricing dating back to July 2017.
Northern Illinois (NI) Hub Around-the-Clock (ATC)
Source: AEP Energy internal estimates
*Graph is for illustrative purposes only. NI Hub priced in Eastern Standard Time (EST)
NI Hub ATC Forward Price Trend Analysis
*Percentile rank from historicals represents the relation of current price and how it compares to historical pricing. For Calendar 2026, 68.3% indicates that the current price is lower than 31.7% of historical pricing dating back to July 2017.
Northern Illinois (NI) Hub On-Peak
Source: AEP Energy internal estimates
*Graph is for illustrative purposes only. NI Hub priced in Eastern Standard Time (EST)
NI Hub On-Peak Forward Price Trend Analysis
*Percentile rank from historicals represents the relation of current price and how it compares to historical pricing. For Calendar 2026, 68.1% indicates that the current price is lower than 31.9% of historical pricing dating back to July 2017.
Western (West) Hub Around-the-Clock (ATC)
Source: AEP Energy internal estimates
*Graph is for illustrative purposes only. West Hub priced in Eastern Standard Time (EST)
West Hub ATC Forward Price Trend Analysis
*Percentile rank from historicals represents the relation of current price and how it compares to historical pricing. For Calendar 2025, 76.3% indicates that the current price is lower than 23.7% of historical pricing dating back to July 2017.
Western (West) Hub On-Peak
Source: AEP Energy internal estimates
*Graph is for illustrative purposes only. West Hub priced in Eastern Standard Time (EST)
West Hub On-Peak Forward Price Trend Analysis
*Percentile rank from historicals represents the relation of current price and how it compares to historical pricing. For Calendar 2026, 78.7% indicates that the current price is lower than 21.3% of historical pricing dating back to July 2017.
Weather
Source: AEP Energy Supply Meteorologist
Natural Gas Storage
Source: U.S. Energy Information Administration (EIA)
EIA Natural Gas Storage
Working gas in storage was 3,705 Bcf as of Friday, October 11, 2024, according to EIA estimates. This represents a net increase of 76 Bcf from the previous week. Stocks were 107 Bcf higher than last year at this time and 163 Bcf above the five-year average of 3,542 Bcf. At 3,705 Bcf, total working gas is within the five-year historical range.
Significant Facts
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