General economic growth continues to provide support to our power demand forecast overall. However, we do see some downward revisions to forecasted loads in this outlook, as losses to industrial demand have now begun to pull our forecasts down in some markets. Overall, despite a further decline in natural gas prices in this outlook, the revised load forecasts and additional contracted coal in 2016 and 2017 limit gains for natural gas. In particular, the concentration of industrial load impacts in the Midwest and the associated reduction in the demand forecast resulted in the biggest decline in gas generation balances in this update. The Southeast region saw the most relative strength; however, forecasted prices came down in every other region. ERCOT continues to price lowest across most markets on average. In the WECC, March weather support boosts our near term hydro outlook, while impacts from demand losses in Washington cascade across the western US.
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The power sector is rapidly transitioning to a cleaner generation mix supported by technological and regulatory changes. Regional markets and structures are adjusting to these new realities with implications on fuel demand, commodity pricing and asset values.
This Power Markets Short Term Outlook report provides a detailed analysis of supply, demand and price fundamentals, as well as the regulatory and market issues affecting regional power markets.
Use this report to examine key issues driving regulatory and economic trends and identify future growth opportunities in regional power markets.
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North America power markets short-term outlook March 2016
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