From SNL Energy:
SNL ENERGY REPORT: DATA SHOW HIGHER GAS PRICES RESULT IN LESS USAGE OF PJM GAS-FIRED UNITS
SNL Energy looks at utilization rates for a subset of natural gas-fired power plants in the PJM region, finding an overall reduction in usage over a 12-month period ending March 31.
"The utilization rates declined as the price of natural gas generally increased over the period. Utilization rates for regulated power plants decreased by 62.4%, while utilization rates for merchant plants dropped by 54.6%, according to SNL Energy data."
"SNL Energy data show that March 2012 appears to be the peak in utilizing natural gas-fired capacity in PJM, with regulated units reaching a roughly 50% utilization rate and merchant plants at nearly 39%. According to a January report by FBR Capital Markets & Co., use of combined-cycle gas turbines rose to 49% in 2012 from 37% the prior year."
Referenced Tickers: Tenaska Capital Management LLC, D, National Power Cooperative Inc, ITOCHU Corp., Dayton Power and Light Co., Equipower Resources Corp., CPN, PJM, Tyr Energy Inc., Buckeye Power Inc., MFC, Tenaska Energy, Conectiv Mid Merit LLC, DUK, Virginia Electric & Power Co., Tenaska Inc, GenOn Energy Inc, AEP, RRI Energy Wholesale, DPL Energy, Wabash Valley Power Assn Inc, Duke Energy Indiana Inc., Energy Capital Partners LLC, Chubu Electric Power Co. Inc., Electric Power Development Co, Hoosier Energy Rural Electric, J-POWER USA Investment Co Ltd, Dominion Energy, Hopewell Cogeneration LP, NRG, Duke Energy Ohio Inc., Ohio Power Co., GDF Suez SA, Dynegy Power, DYN, John Hancock Life Insurance Co, AES
Read the full report and analysis here: http://www.snl.com/InteractiveX/Article.aspx?cdid=A-17472371-12590