How high will New England’s spot power price go during this pre-winter blast? New England saw its spot price hit $167.25/MWh Dec. 11, according to figures reported to the Energy Information Administration.
At the same time the spot price of natural for Dec. 11 delivery in New England was recorded at $20.50/mmBtu, according to EIA. That compares to a $4.24/mmBtu NYMEX price for January delivery.
The Boston forecast predicts a high of only 30 degrees F for Dec. 11 with winds of 15 miles per hour. The forecast is even colder for Thursday, Dec. 12.
Some other parts of the country are also seeing high spot prices, albeit not to the extent of New England.
The Northwest was its price surge more than 25% to $81.50/MWh. New York City saw its spot power price increase more than 28% to $73.40.
The National Weather Service says that cold winds over the relatively warm Great Lakes will promote heavy lake-effect snow downwind of the lakes through at least Thursday. The heaviest snow will occur in Upstate New York downwind of Lakes Erie and Ontario where up to two feet of snow could fall this week.
The weather service also says that temperatures will be from 10 degrees to 30 degrees below average from the Upper Midwest to the Southern Plains.