PJM Pricing In Motion

September 02, 2025 

PJM/MISO deal flow kept the pricing desk busy again last week, with the exception of Friday, as activity slowed ahead of the Labor Day weekend. The desk continued to book mostly Incremental Blocks, Price Locks and FP deals as lower market levels entice customers to lock in. It appears the market has found at least temporary support as of Tuesday afternoon.  

PJM Cal 2026 West Hub On Peak traded around $62.35 Tuesday afternoon. Cal 27 and Cal 28 are around $63.40. 

There is a fairly strong cold front making its way across the Northern Plains and Midwest this week that will bring low temps in the 30’s and 40’s in Nebraska. 

There’s a tropical wave being tracked in the eastern Atlantic and forecasters say it likely will develop into a tropical storm.      

Natural gas for October is trading around $3.00.

PJM load is forecast to peak at 107,219 MW Hour Ending 17 EDT 9-2-2025.

 

Source:  Steve Hammack, Pricing and Load Management