With the heat wave passing, spot power prices for much of the eastern United States are down at least 60%, according to Energy Information Administration (EIA) figures.
After seeing high temperatures in the high 90s the previous week, the forecasts for New York, Boston and Washington, D.C., were expected to stay in the 80s July 22. The lower temperatures have translated to lower spot power prices.
After spending much of the prior week with spot power prices well in excess of $100/MWh, New York City, the Mid-Atlantic and New England all record spot price decreases of at least 60% for electricity to be delivered July 22.
New York recorded the highest spot power price July 22 at $63.20/MWh; New England was second at $55.58 and the Mid-Atlantic was third at $53.58.