May 13, 2025
May 12th – Gas prices dropped nearly 15 cents. That, plus a forecast calling for near-normal temperatures later this month, put some downward pressure on power markets—especially at the front of the curve. But don’t get too comfortable. Starting tomorrow, Texas is looking at some serious heat—well above average. And with wind generation expected to dip Thursday and Friday, traders pushed balweek prices sharply higher.
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May 9th – Natural gas rallied—up just over 20 cents, hitting a one-month high. Power markets followed, with most of the action again at the front of the curve. Weather models turned up the heat—literally. Triple-digit temps are now in the forecast for next week. That sent cash power soaring, with balweek prices jumping more than $25 on peak.
