Mike’s Take – Oct 23

Good Morning,

ISO loads are tanking while the Northwest’s are trending unchanged:

001_LoadsISO 001_LoadsNW

Looking out the LA basin remains warm, the projected cooling has been displaced with more heat, let’s call that bullish SP.  The northwest also is a touch warmer, let’s call that bullish Golf:

001_TempBurb 001_TempSea

Note there is also no rain coming to Seattle, meaning no rain falling anywhere in the northwest, call that bullish on both MId-C and golf.  Moving on from demand, the biggest news in today’s fundies are the changes to the RFC’s 10 day:


That, ladies and gentlemen, is about 500 aMW of water the folks in Portland poured onto the bullish fires (if there were any out there).  Perhaps it also portends to a more bearish STP on Monday, but I don’t think so.  My guess is November will be revised downward, probably not a lot, maybe 200-300 aMW down.

That’s all for now, enjoy your weekend.