Plug power forecast iso#

Plug power forecast iso#

Gas-fired power accounted for 51.8% of the ISO-NE power generation fuel mix in May, down from 58.9% in April and 55.5% in May 2022, according to ISO data. ISO-NE has over 30 GW of incremental power generating capacity, mostly wind power, in its interconnection queue, though many projects ultimately withdraw, according to the grid operator. 'There are no major retirements or additions expected this summer with the last year of Mystic and Vineyard Wind project expected to come online in a little less than a year.' 'We are seeing a fairly stable outlook heading into the summer,' Dan Dolan, president of trade group New England Power Generators Association, said in a June 13 email. The highest summer forward gas price is in July at $4.49/MMBtu, down about 45% from $8.23/MMBtu a year ago. With natural gas-fired power accounting for over 50% of the ISO-NE power generation fuel mix, gas prices heavily impact power prices.Īlgonquin on-peak forward gas prices for June, July and August averaged $5.52/MMBtu in May trading, down from an average of $8.02/MMBtu for the corresponding period last year. The Mass Hub July on-peak forward power price averaged $76.87/MWh in May trading, down 44% on year and down 1.43% on month, and forward power for August averaged $56.89/MWh, down 52% on year and down about 5% on month. The monthly average power price for June was down about 2% on month. The Mass Hub on-peak forward power price for June averaged $44.86/MWh in May trading, down nearly 51% from $91.04/MWh a year ago, according to Platts M2MS data. 'As a result, we project on-peak power prices to continue to moderate throughout the year with an average of $41/MWh in 2023,' the analysts said. 'With gas markets rebalancing and production outpacing demand, delivered natural gas prices in New England are projected to average around $3.32/MMBtu in 2023, down from over $9/MMBtu in 2022,' the power market analysts said in a recent research note. Hopefully, the company’s scaled-up production capacity will help Plug Power improve its financials.Receive daily email alerts, subscriber notes & personalize your experience. Plug Power’s gigafactory should keep any competitors in the green hydrogen production business at bay. So, Here’s My PLUG Stock Price Prediction for 2030 Plug Power’s gigafactory is located in Rochester, New York, and it reportedly produced 122 megawatts of “electrolyzer stacks for customers and Plug’s green hydrogen plants.” Moreover, prepare for a major scale-up as Plug Power is “on track” to ramp the gigafactory’s capacity up to 100 megawatts per month in the middle of the current quarter, “with plans to further increase output” during the third quarter of this year. This gigafactory features over 2 gigawatts of electrolyzers, 60,000 fuel cell stacks and 2.5 gigawatts of output capacity. I’m referring to Plug Power’s gigafactory, where on-site green hydrogen production takes place on a massive scale. Now, it’s time to ask yourself a tough question: Are you willing to overlook Plug Power’s current financial issues? If so, then I invite you to consider the piece of the puzzle that will drive Plug Power’s growth through 2030. Gigafactory Is the Key to Plug Power’s Future Growth In addition, Plug Power reported a widening net earnings loss during that time frame. It’s also problematic that Plug Power’s cash and cash equivalents dwindled from $2.48 billion at the end of 2021 to $690.63 million at the end of 2022. On the other hand, Plug Power has a track record of quarterly EPS misses. Plus, the average price target for PLUG stock is $25.50, which indicates strong upside potential.

Out of 21 analysts, 16 gave Plug Power a “buy” rating and no “sell” ratings were observed. Indeed, Plug Power’s well-heeled investors include famous names like Vanguard and BlackRock (NYSE: BLK).įurthermore, Wall Street’s experts generally favor Plug Power. Still, the current Plug Power share price of around $10 seems too cheap, so there’s an opportunity here.Įven though many financial traders gave up on Plug Power, Samuel O’Brient reported that some big-money investors are staying in the trade. I’ll be the first to admit that $60 was too high, too soon. PLUG stock peaked at around $30 last year and, prior to that, traded above $60 per share.

PLUG Stock Investors Will Have to Forgive Poor Financials Instead, consider how much shareholder value the company could provide through 2030. Therefore, don’t over-focus on Plug Power’s progress in 2023. Really, Plug Power’s loyal shareholders are willing to accept imperfections today, in anticipation of potential returns down the road. As we’ll discover, the company doesn’t check all of the boxes for folks who insist on picture-perfect financials. To be honest, it requires faith and vision to confidently invest in Plug Power.