|FERC Staff 2015 Summer Seasonal Assessment|
FERC Staff presented its 2015 Summer Seasonal Assessment reflecting a generally positive outlook. "EIA has forecast a 2.9 percent increase in electric demand from 2014, reflecting an expected return to more typical conditions from last year’s unusually mild weather. . . . Meanwhile, the total generating capacity in the U.S. has decreased by about 3 percent, primarily because of increased coal generator retirements." Reserve margins are expected to be adequate for all assessment areas this summer, and resource adequacy is forecast to improve this summer in MISO, ERCOT and New York. Enrolled demand response capacity has fallen in each of the regions from last year, most significantly in PJM where it has dropped by nearly 2,500MW. The average NYMEX futures natural gas price for June through August is $2.89/MMBtu, representing a 40 percent decrease from 2014. Similarly, forward peak power prices have decreased by an average of 24 percent from last year. The full text of the 2015 Summer Seasonal Assessment is available on the NEM Website.