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.