EIA: Cooler weather leads to falling power prices in Northeast, Mid-continent


Sept. 13, 2002 — Electricity prices in the Northeast have been falling for three consecutive trading days as cooler weather has lead to a reduction in the demand for electricity, the Energy Information Administration reported.

Electricity prices in the Mid-continent region have been decreasing over the past two trading days as cooler weather has decreased the demand for electricity.

Western U.S. spot electricity prices have remained relatively stable over the past seven-day period with the exception being in the Pacific northwest. Over the past seven days, the average price at all trading centers has ranged between $34.08 and $43.77 per megawatthour.

Selected wholesale electricity prices
Western U.S. spot electricity prices have remained relatively stable over the past seven-day period with the exception being in the Pacific northwest were prices have increased for four consecutive trading days as warmer than normal temperatures coincide with a decrease in available hydro-power to raise prices.
Prices at the Mid-Columbia trading center, a benchmark for northwest power prices, have increased 35% over the past five trading days to $27.86 per megawatthour on September 11. Prices in California and the desert southwest have been stable over the past seven trading days.

Prices at the SP 15, in California, ranged between $32.31 per megawatthour and $35.57 per megawatthour. Similarly, prices at the Four Corners trading center, in Arizona, have ranged between $32.32 and $35.05 per megawatthour
Electricity prices in the Mid-continent region have been decreasing over the past two trading days as cooler weather has decreased the demand for electricity. Cinergy’s price has dropped 41% from its high of $43.25 per megawatthour on September 9 to $25.50 per megawatthour on September 11.
Prices in the Northeast have been falling for three consecutive trading days as cooler weather has lead to a reduction in the demand for electricity. The exception to this trend was in New England, which saw a slight increase in price yesterday.

According to the Bloomberg Power Lines Report, a trader was quoted as saying, “Clearing prices came in very high today” trying to explain the unexpected increase. Despite this small upswing, prices in New England are still down 43% from last week’s high price to $44.56 per megawatthour on September 11. Similarly prices at the PJM West and New York Zone J, New York City are down 49% and 35% respectively, with PJM West price at $28.45 per megawatthour on September 11 and New York City’s price at $48.75 per megawatthour.

Over the past seven days, the average price at all trading centers has ranged between $34.08 and $43.77 per megawatthour.

For more information, visit the Energy Information Administration’s web site at http://www.eia.doe.gov/emeu/security/esar/esar.html.

Previous articleSiemens Corp. announces leadership change for Power Transmission & Distribution unit
Next articleBasin Electric announces two 40-MW wind projects in the Dakotas

No posts to display