Northeast’s Inflated Natural Gas and Power Forwards | Energy Watch Blog

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The upcoming winter’s natural gas and power prices outlook for PJM, NYISO and ISO-New England continue to trend up despite the warmer-than-normal weather forecast. The forwards appear overvalued and ESAI Power holds its bearish stance on natural gas and power prices. The markets bullish outlook is based on a recent uptick in delivered gas and global LNG prices, but ESAI Power’s outlook has key insights driving a stable gas and power forecast.

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RGGI Update on CO2 Data, Pennsylvania, North Carolina & Massachusetts CO2 Auction | Emissions Watch Blog

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In this Emissions Watch blog, we provide several updates pertaining to the RGGI program, including a review of the recently released Q2 2021 CO2 emissions data for states in the RGGI footprint. Compared to the same quarter last year, emissions were 17 percent higher. ESAI also provides an updated RGGI price forecast, which remains below current OTC prices in the longer-term. In Pennsylvania, the Environmental Quality Board (EQB) approved final regulations to join RGGI last month, but opposition to the state joining the program persists.

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NYISO Renewables Update | Renewables Watch Blog

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New York continues to push ahead with its renewable energy goals. Just last week, the state announced two significant developments during its kick-off of Climate Week. Governor Kathy Hochul announced the winners of its recently established Tier 4 REC solicitation, which sought proposed generation or transmission projects that would deliver renewable electricity into New York City. Additionally, Hochul called for the expansion of the state’s NY-Sun program to achieve 10 GW of distributed solar by 2030 (up from 6 GW by 2025). Both announcements signal the state’s commitment to reach its goal of 70% renewable electricity by 2030.

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PJM Renewable Capacity Pricing | Renewables Watch Blog

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Renewable generation in PJM has been increasing over the past few years and will play a larger role in the market’s resource mix going forward. Coal-fired capacity is retiring at a rapid pace, and the interconnection queue is heavily comprised of renewable capacity. There is approximately 133 GW of utility-scale solar, wind, and offshore wind projects with queue positions in various stages of development.

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September Congestion update PJM NYISO & ISO-NE | Congestion Watch Blog

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Weather forecasts across the Northeast power markets continue to call for warmer-than-normal temperatures this summer and elevated electricity demand will be the main congestion driver in August. Planned generator maintenance will be minimal; however, forced generator outages during hot summer weather could significantly impact congestion and be an import constraint on areas across the Northeast Power Pools.

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Stepping Stones to FCA16 and Beyond | Capacity Watch Blog

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In this blog, we highlight a portion of the analysis in the NYISO section of the recently published Q2 Capacity Watch™. Changes to the New York markets’ supply and demand levels and declining peak load forecasts have sent capacity prices in all directions. New York’s commitment to renewable development has increased considerably in the past year with the approval of CLCPA’s minimum statewide goal of 9 GW of offshore wind by 2035. The upward trajectory of renewables has also shaped LCR and IRM expectations.

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Offshore Wind is Blowing Through NYISO | Energy Watch Blog

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This blog looks into the impact that offshore wind development in NYISO has on gas-fired generation facilities and their net energy revenues. The recent approval of CLCPA’s minimum statewide offshore wind goal and NYSERDA’s authority to procure offshore renewable energy credits (ORECs) puts renewables at the forefront of NYISOs market development. The Boardwalk Offshore Wind and Beacon Offshore Wind Project that were recently awarded OREC contracts are just the start of the lofty 9 GW offshore wind target.

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Renewable Expansion in NYISO | Capacity Watch Blog

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In this blog, we highlight a portion of the analysis in the NYISO section of the recently published Q2 Capacity Watch™. Changes to the New York markets’ supply and demand levels and declining peak load forecasts have sent capacity prices in all directions. New York’s commitment to renewable development has increased considerably in the past year with the approval of CLCPA’s minimum statewide goal of 9 GW of offshore wind by 2035.

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How Low Can PJM Capacity Prices Go? | Capacity Watch Blog

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Our Q2 Capacity Watch™ provides clients with an in-depth outlook on PJM, ISO-New England, and NYISO Capacity prices. In this blog, we will highlight a portion of the analysis in the PJM section of the recently published Q2 Capacity Watch™. PJM’s recent release of the 2022/23 Base Residual Auction clearing prices surprised many market participants with prices well below expectations. Prices in each LDA cleared significantly lower than historical auctions, and in particular, the 2021/22 BRA.

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Transmission Outages in ISO-NE Will Elevate Congestion Potential in NEMA, SEMA & CT | Congestion Watch Blog

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Weather forecasts across the Northeast power markets continue to call for warmer-than-normal temperatures this summer and elevated electricity demand will be the main congestion driver in August. Planned generator maintenance will be minimal; however, forced generator outages during hot summer weather could significantly impact congestion and be an import constraint on areas across the Northeast Power Pools.

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