PJM Pricing Activity Update
September 25, 2025
PJM/MISO deal flow remains steady. As of September 22, the pricing desk continues to book Incremental Blocks, Price Locks, and FP deals, with market support levels holding firm since earlier this month.
PJM Cal 2026 West Hub On Peak is trading at approximately 62.85 as of Monday afternoon, September 22, 2025. Cal 2027 and Cal 2028 are trading near 64.50.
A hurricane in the Atlantic currently poses no threat to Gulf production, though two additional tropical systems are being monitored between Africa and the Gulf.
October natural gas is trading around $2.81/mmbtu.
Forecasts for the remainder of 2025 indicate a La Niña pattern: warmer and drier conditions in the South, with cooler and wetter conditions in the North.
