EIA reports mixed spot power prices across country

Automatic shutdown of Exelon nuclear plant tightens supplies in Mid-continent region

Oct. 21, 2002 — The Energy Information Administration (EIA) reported Thursday that Western U.S. electricity spot prices were mixed over the past seven trading days.

Northern California’s prices, as measured at the COB trading center, ranged between a high of $36.00 per megawatthour and a low of $30.33 per megawatthour. Prices on California’s Path 15 were also relatively stable. Both NP-15 and SP-15 prices ranged between $34.32 and $39.14 per megawatthour.

Prices did decline across the state October 16 however, as gas-fired plants increased generation while natural gas prices declined.

Electricity prices in the Mid-continent region, as measured at the Cinergy trading center, increased by almost $8.00 per megawatthour October 16, reaching $28.23 per megawatthour.

Freezing rain and cooler weather coupled with the unexpected shut down of Exelon’s 1,150-megawatt nuclear power plant contributed to the price increase. This shut down occurred at a time when many plants in the region were idled for scheduled maintenance.

In the Southeastern U.S., SERC’s prices have been mixed for the last seven trading days. Prices ranged between $26.87 and $30.10 per megawatthour. Cooler morning weather could lead to an increase in demand causing morning hourly prices to jump over the next several days.

Prices in the Northeast were mixed over the last seven trading days. Prices at NEPOOL ranged between $45.25 and $50.00 per megawatthour. Prices in New York City ranged between $55.50 and $61.88 per megawatthour.

Price at PJM West ranged between $27.94 and $38.00 per megawatthour. Cooler weather expected in the Northeast should drive electricity prices upward over the coming weeks.

Over the past seven days, the average price at all trading centers ranged between $33.87 and $37.10 per megawatthour.
Source: EIA ( http://www.eia.doe.gov)

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