Aug. 9, 2002 — Wholesale electricity spot prices have been relatively stable over the past several days at the major western U.S. trading centers as generation capacity has easily covered electricity demand.
Prices at the COB increased $.40 on August 7 to $20.40 per megawatthour. Similarly, prices at Palo Verde increased less than one dollar (78 cents) to $28.97 per megawatthour.
The Mid-continent region continued to see electricity prices fall as cooler weather has remained in the region, reducing the demand for electricity. Prices at the Cinergy hub dropped another 17 percent to $21.33 per megawatthour on August 7.
Similarly, prices in the Northeast have also continued to fall, though not as drastically as earlier in the week, as cooler weather has set in the region reducing the demand for electricity.
The largest percentage dropped occurred in New England, where prices dropped 13 percent from $38.31 per megawatthour on August 6 to $33.20 per megawatthour on August 7. The PJM hub experienced an 8 percent decrease in price going to $27.44 per megawatthour on August 7. Similarly, prices at the New York Zone J, New York City have decreased 4 percent going to $61.88 per megawatthour on August 7.
Over the past seven days, the average price at all trading centers has ranged between $29.60 per megawatthour and $50.67 per megawatthour.
For more information, visit the Energy Information Administration at http://www.eia.doe.gov/emeu/security/esar/esar.html.