Energy Market Report

Recent Developments in Today’s Market

Bullish – Bearish statement provided by AEP Energy Trading

On Monday, September 23, a jump in natural gas futures is driving power markets higher in early trading. October 2024 natural gas is up $0.146/MMBtu to $2.580/MMBtu and October peak power at AEP – Dayton Hub is up $0.85/MWh to $44.10/MWh.

On Friday, September 20, a strong push higher in natural gas supported power throughout the curve during the day.

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/JMP 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, 69.3% indicates that the current price is lower than 30.7% 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, 70.6% indicates that the current price is lower than 29.4% 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, 69.3% indicates that the current price is lower than 30.7% 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, 72% indicates that the current price is lower than 28% 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, 76.9% indicates that the current price is lower than 23.1% 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 2026, 80.6% indicates that the current price is lower than 19.4% 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

Significant Facts

 

 

 

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