Robust PJM Pricing Activity

August 19, 2025 

PJM/MISO deal flow continues to pick up week / week. Increased requests for executable pricing in addition to executed Incremental Blocks, Price Locks and Fixed Price deals have been strong as the market continues to print lower. 

PJM Cal 2026 West Hub On Peak is trading around 61.75 Tuesday morning, Aug 19, 2025. Cal 27 and Cal 28 are both around the 63.00 level as it appears the backwardation has faded.

Hurricane Erin will not threaten Gulf natural gas production as it spins North and will miss the East Coast.

Natural gas for September is trading around 2.78, about 3.5% lower on the day. 

 

Source: Steve Hammack, Pricing and Load Management