Regulatory moves, rate cases, capacity market shifts, and competitive supply developments across every major U.S. ISO. Curated for the people who actually trade, schedule, and manage energy portfolios.
Lower 48 storage hit 3,724 Bcf, 38 Bcf above the five-year average but 147 Bcf below last year. Mild early-November forecasts across the East are adding to the pressure. South Central is the one region still in deficit, at 2.3% under its five-year average.
American Clean Power says PJM has to prove its "mega queue" delivers what it promises. The worry is that cost and timing risk lands on generation developers. That could slow new supply into a tight market, but it's an opinion piece, so we stay neutral.
Past and present commissioners met at the OMS annual meeting to discuss reviving a joint MISO and SPP regulator group. The goal is to move interregional transmission planning along after repeated misses. No price impact yet, so it's neutral.
Speakers at a state regulators' conference backed a governance structure that gives states more weight in grid policy. PJM is preparing a FERC filing that would overhaul how it makes decisions. The full story is paywalled, and a governance fight doesn't move prices today, so we stay neutral.
ISO-NE changed phase two of its Capacity Auction Reform plan after stakeholder pushback. The transition period grows from two years to three. Details are paywalled. A slower ramp delays the price impact, so the direction stays unclear.
The loan backs new gas-fired generation and storage in Iowa and Wisconsin, and Alliant says it could save ratepayers up to $1.2B. More gas-fired capacity means more burn at the margin, which firms long-run gas demand. Alliant is also building a 150 MW battery on its former Lansing coal site.
BloombergNEF now sees 434.4 GW of U.S. storage by 2036. On-site storage at data centers is expected to hit 4.9 GW this year, up from 500 MW in 2025. More batteries on the system soften peak pricing over time, which is a bearish tilt for what REPs pay.
Yesterday's peak beat the 63,200 MW forecast, while average load came in at 54,290 MW against a 54,770 MW estimate. Today's peak is forecast at 60,900 MW, and wind is expected to fade for a couple of days before rebounding next week. Prices ticked higher as renewables slipped.
December futures are sitting near multi-month lows after last week's $3.047 close. Estimates for today's EIA build run 68 to 75 Bcf. Weather models call for light demand over the next week and a bearish 15-day pattern, though the East stays warmer than normal into early November.
Prices bounced off multi-month lows, but mild weather and light heating demand through Nov. 3 are keeping a lid on it. The EIA is expected to report a 68 Bcf build, which would push inventories toward roughly 3,850 Bcf by month-end, about 2% above the five-year average. Sellers still have the edge.
The Houston utility raised its 10-year plan to $70.7 billion and expects 14 GW of new load by 2030. About $51.5 billion goes to electric operations and $19 billion to gas. That much load growth in ERCOT points to firmer power demand and tighter peaks ahead.
A group of practitioners wrote a guidebook for state policymakers on using distributed energy resources faster and cheaper. The recommendations sit behind a paywall. DER growth could ease peaks over time, but a playbook isn't a build, so no price call yet.
PJM says its operating calls during Winter Storm Fern were justified and wants FERC to dismiss the refund request. It also argues that market stability needs protecting. Only the opening of the story is public. How this lands decides who eats the settlement hit, so we stay neutral.
Stakeholders disagree on ISO-NE's price-based curtailment method for flexible large loads. A vote on the large load tariff changes is coming. Details are paywalled. Unsettled rules for big new load keep price direction unclear.
The loan would fund output increases at eight nuclear plants, adding nearly 1.1 GW across the MISO and PJM grids. More firm supply pulls on the same side of the ledger as a lower price for energy and capacity buyers, though the uprates take years to show up.
December futures broke below a multi-month low at $2.945 as forecasts call for above-normal temperatures through Nov. 9. EIA sees end-October storage near 3,985 Bcf, the highest since 2016. Production is up 5.3% on the year, and LNG feedgas is running 20.6 Bcf/d. Supply is ample and heating demand is soft.
Yesterday's peak came in under the 61,700 MW forecast, with average load at 52,380 MW. Peak forecasts are 60,200 MW today and 62,500 MW tomorrow, and the weekly average is tracking 53.07 GW, down 0.70 GW from the prior estimate. Soft load, but still above last week. No clear price direction.
December futures broke a multi-month low at $2.945, and the next downside target is $2.748. Mild weather into early November and high production point to a larger storage build. A weekly close above $3.047 would be the first sign of a reversal.
FERC approved penalties meant to make demand response show up when MISO calls on it. The order touches load-modifying resources in the capacity auction. Tighter performance rules firm up capacity but add compliance risk for the resources behind it.
At a special meeting, NERC's board approved five new standards for computational loads, including data centers. They now head to FERC. Reliability rules for big load could shape how fast it connects, and that matters for capacity prices.
Sunday's peak finished well below the 60,400 MW call. Forecast peaks are 61,700 MW today and 61,800 MW tomorrow, and the weekly average is tracking near 53.8 GW, up from last week. Soft load offsets weaker solar, so no clear price direction.
Futures fell 5.6% Friday and about 15.3% for the week. Forecasts call for above-average temperatures in the Midwest and East through Nov. 5, and a possible strong El Nino points to a mild winter. The bias stays down unless a reversal bottom forms.
PJM plans to resubmit the proposal with changes in three areas after FERC pushed back on its interim resource adequacy service. The details sit behind a paywall. The rules for backstop capacity costs are still unsettled, so we hold price direction at neutral.
ISO-NE reported roughly $1.8 billion of new asset condition projects to the Planning Advisory Committee since its last update. National Grid and Eversource are among the owners. It adds to transmission costs, but nothing moves energy prices yet.
The TOs are using their Section 205 rights to answer FERC's show-cause order on large load interconnection. They want to dodge a long fight over state versus federal authority. It lands days after NYISO's own framework drew lukewarm stakeholder support.
Thursday's peak finished below the 64,800 MW forecast and the weekly average is tracking near 50 GW, well under the prior two weeks. Wind has recovered from its lows and should be strong over the weekend. Soft load and returning wind take pressure off prices.
NYISO's answer to FERC's show-cause order on large loads doesn't have full backing. Most stakeholders abstained on the votes, and some state agencies opposed it. Who pays for new data center load is still unsettled, so the price signal stays unclear.
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