PJM Pricing Picks Up

August 13, 2025 

The PJM/MISO market has moved lower and deal flow has picked up for the two weeks ending 8/8/2025. Pricing Desk activity is above normal with processing of fixed price, price lock and incremental block agreements.

Customers are taking advantage of the sell off and are hedging winter 2026 positions.  We are booking winter shaped blocks for Dec 2025 – Feb 2026 and Jan – March 2026  

PJM Cal 2026 West Hub On Peak was trading around 62.00 Tuesday morning, Aug 12, 2025, about a dollar lower week/ week.  Cal 27 and Cal 28 are both around the 62.75 level. 

PJM load is forecast to peak at 142,650 MW Hour Ending 17 today.

Source:  Steve Hammack, Pricing and Load Management