Much of the East Coast continues to swelter in a July heat wave and that’s reflected in spot power prices well above $100/MWh in key markets.
The Mid-Atlantic reported a spot price of $157.18/MWh for delivery on July 17. That’s according to data from the Energy Information Administration (EIA). Meanwhile New York City and New England reported spot prices $138.75 and $129.51 respectively.
By contrast, the spot power price for Southern California was pegged at $48.28.
Weather forecasts in New York, Boston and Washington, D.C., all predicted high temperatures in the 90s for July 17.
While the spot price for natural gas modest nationally, at $3.68, New England reported a spot natural gas price at $8.01/mmBtu.