September’s Energy Market Update looks at a market pulling in two directions. Near-term power prices are easing from summer highs and natural gas enters winter with storage at its highest level since 2016, yet forward power remains well above year-ago levels and Northeast winter gas is pricing real regional risk. January 2027 delivered gas into New England carries a $17.64/MMBtu premium over Henry Hub. Inside PJM, Dominion prices Cal 2027 on-peak at roughly double COMED.
Read the full update for forward curves across PJM, NYISO, and ISO-NE, plus the bullish and bearish factors heading into the heating season.
