Power prices are rising along with the temperatures in much of the East.
The Mid-Atlantic, New York City and New England all recorded spot power prices in excess of $100/MWh, according to the July 16 daily price report published by the Energy Information Administration (EIA).
The Mid-Atlantic recorded the highest spot power price at $117.65, followed by New England at $115.17 and New York City at $104.97. The New England spot price was 49% higher than the price recorded the prior trading day.
New York was expected to hit 99 degrees on July 16; Boston high is forecast to be 90 degrees and Washington, D.C. was expected a high of 95 degrees.
Compared to the large eastern hubs, power was relatively cheap in California where both Northern California and Southern California recorded spot prices below $45.
