PJM Deal Flow Update

July 29, 2025 

PJM/MISO deal flow was below average for the week ending 7/25/2025. The power market continued to move lower, but without an increase in customer buying interest.  We expect to see activity increase as summer vacations end and school begins. 

PJM Cal 2026 West Hub On Peak is trading around 63.00 Tuesday morning, July 29 2025.

PJM issued Hot Weather and Maximum Generation Alerts for July 28 and 29.  Estimated peak loads are around 155,000 MW on the 28th and 160,000 on the 29th.  Temperatures for the Upper Midwest and Northeast are forecast to cool down a little mid week. 

Natural gas for September seems to have found at least short-term support around $3.00/mmbtu.  There is no tropical activity being tracked in the Northern Atlantic at this time.

Source:  Steve Hammack, Pricing and Load Management