Hot temperatures reflected in Western power prices

Recently-posted power prices from the Energy Information Administration (EIA) show that three of its 10 regional reporting centers recorded spot power prices of more than $80/MWh.

All three of these regions are located west of the Mississippi and provide yet another indicator of the heat wave gripping much of the West.

Northern California recorded the highest spot power price in the nation at $91, according to EIA’s July 1 market price report. Southern California reported the second highest at 87.94; and the Southwest was third at $83.25.

The Southwest spot price figure, while high, was still nearly 96% lower than the price that had been recorded during the prior business day, according to the EIA data.

With hot temperatures bearing down on Northern California and with a major generation unit off line, the California Independent System Operator Corporation (ISO) issued a “flex alert” for conservation measures July 1 and 2.

Northern California’s peak power forecast for July 1 is predicted to be   48,300 MW in the late afternoon. The July 2 peak is forecast to be 47,808 MW.

About Wayne Barber 4201 Articles
Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL Financial for nine years. He has also worked as a business journalist at both McGraw-Hill and Financial Times Energy. Wayne also worked as a newspaper reporter for several years. During his career has visited nuclear reactors and coal mines as well as coal and natural gas power plants. Wayne can be reached at wayneb@pennwell.com.