Energy Market Report
Sep 15, 2026
Recent Developments in Today’s Market
Bullish – Bearish statement provided by AEP Energy Trading
Monday, September 14 – Power traded higher today. Stronger-than-expected day-ahead pricing related to elevated generation outages supported the market, while a lower wind forecast in the 6–15-day timeframe also contributed to higher power prices.
Friday, September 11 – Power prices were generally higher today. Forecasts for summer-like temperatures later next week and the start of generation outage season supported forward markets and balance-of-the-year pricing. Near-term prices for Monday moved lower, however, as slightly cooler weather expectations and strong renewable generation weighed on the market heading into the weekend.
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 2028, 99.8% indicates that the current price is lower than 0.2% 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 2028, 99.9% indicates that the current price is lower than 0.1% 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 2028, 83.7% indicates that the current price is lower than 16.3% 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 2028, 87.7% indicates that the current price is lower than 12.3% 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 2028, 99.9% indicates that the current price is lower than 0.1% 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 2028, 99.9% indicates that the current price is lower than 0.1% 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 3,254 Bcf as of Friday, September 4, 2026, according to EIA estimates. This represents a net increase of 40 Bcf from the previous week. Stocks were 79 Bcf less than last year at this time and 148 Bcf above the five-year average of 3,106 Bcf. At 3,254 Bcf, total working gas is within the five-year historical range.
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