FINWIRES · TerminalLIVE
FINWIRES

NWS Warns of Heavy Rains in New Mexico, West Texas

By

The US National Weather Service forecast heavy rainfall across New Mexico into West Texas from Tuesday through Wednesday, along with the possibility of flash flooding and debris flows in areas of burn-scarred land.

The East Coast is expected to experience heavy rains, strong winds and coastal flooding through Friday due to the formation of a strong coastal low offshore of the Mid-Atlantic coast midweek, the agency said.

The NWS Tuesday issued a flood warning for Iowa's Clinton, Burlington, Iowa City, and areas near Ottumwa. Iowa is primarily provided with electricity by MidAmerican Energy Company, a Berkshire Hathaway Energyunit, and Alliant Energy (LNT).

A similar warning was also raised for Quincy in Illinois and small pockets along the Illinois-Iowa and Illinois-Missouri border areas. Ameren's (AEE) Illinois unit and Exelon (EXC) subsidiary ComEd are among the major service providers in Illinois.

A flood warning was also issued for Indiana's Fort Wayne and areas near Marion, which primarily fall under the service areas of Indiana Michigan Power, a subsidiary of American Electric Power (AEP).

In Ohio, Jackson, and areas near Maysville, Moundsville, New Lexington were placed under a flood warning watch. AEP's Ohio unit is among the major service providers in these places.

West Virginia's Parkersburg, Clarksburg and Sutton were also covered by a flood warning watch, while a flash flood warning was issued for areas near Beckley. These places primarily fall under the service areas of AEP subsidiary Appalachian Power and FirstEnergy's (FE) Mon Power.

Flash flood warnings were also issued for Crossville in Tennessee; areas near Middlesboro in Kentucky; and Clintwood and nearby areas in Virginia.

What else is happening in Commodities?

Commodities

US Power Update: Prices Show Wide Regional Swings, With PJM Above $500/MWh

US electricity markets saw wide price swings, with locational marginal prices varying sharply across regions as power demand shifted.The Independent Electricity System Operator led the markets at 5 p.m. ET with a locational marginal price of $36.47 per megawatt-hour, compared with $30/MWh for the Independent System Operator of New England, which posted the lowest price at that hour.For intraday peaks, PJM Interconnection reached $518.41/MWh at 1:35 p.m. ET, while the IESO recorded the lowest locational marginal price at $0/MWh at 2:45 a.m. ET.The National Weather Service's Climate Prediction Center forecasts above-normal temperatures across most of the US from Sept. 29-Oct. 5, with near-normal readings in some areas of the West.

Commodities

Natural Gas Update: US Futures Fall on European Decline

US natural gas prices fell to a one-week low on Monday, pressured by a sharp decline in European gas prices, while forecasts for hotter US weather helped limit the losses.In US trading, both the front-month Henry Hub contract and the continuous contract fell by 2.85% to $2.829 per million British thermal units.In Europe, the front-month Dutch TTF gas futures contract dropped 7.417% to 73.620 euros ($84.40) per megawatt-hour, while British NBP futures declined 7.469% to 183.36 pence ($2.45) per therm.Losses in US gas prices were tempered by forecasts for hotter weather that could boost demand from power generators for air conditioning, Barchart said. The Commodity Weather Group said on Monday that forecasts had shifted hotter, with above-average temperatures expected across the US Gulf Coast through Sept. 30.US gas production remained robust, while inventories were above historical averages, limiting the potential for a sharper price rally. In Europe, gas prices fell after details of Germany's latest gas storage tenders indicated that the volumes sought would be lower than initially expected.

Commodities

Market Chatter: Meta's Alberta Data Center Boosts Province's Appeal to US Hyperscalers, Capital Power Says

Capital Power CEO Avik Dey said Meta's (META) planned CA$13 billion ($9 billion) Alberta data center has boosted the province's appeal to hyperscalers, who view the project as a vote of confidence in the government's artificial intelligence strategy, Reuters reported on Monday.Dey reportedly said the company is in talks with several firms seeking electricity for potential projects and expects other US hyperscalers to follow Meta.More than 100 data centers have been proposed in Alberta, which offers abundant natural gas, available land and a cold climate. Capital Power will initially supply 250 megawatts of electricity to Meta's site.Capital Power did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$META