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:

001_RFC10day

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.

Cheers,

 

Mike