Spot power and natural gas prices show decline

Spot electric power prices were down in nine of the 10 regions monitored by the Energy Information Administration (EIA), according to figures posted July 9.

Meanwhile, spot natural gas prices were down in all 10 EIA regions.

Spot power prices ranged from $57.70/MWh in New York City to $31.15/MWh in the Northwest.

The Mid-Atlantic and Northwest saw their spot power prices decrease by more than 20%. Baltimore was expected to see a high temperature of 89 degrees on July 9 while Seattle expected a high of only 80 degrees.

Regional spot natural gas prices ranged from $3.05/mmBtu in the Mid-Atlantic to $4.79/mmBtu in Northern California.

Both New York and New England saw their daily spot natural gas price decrease more than 80%.

The natural gas futures price continues to trend downward of late. EIA data shows that the futures price was roughly $4.23/mmBtu on July 7. That’s down about 24 cents compared to one week earlier but still 61 cents higher than one year earlier. (Prices rounded to the nearest cent).

On the nuclear energy front, only two of the nation’s 100 power reactors are currently listed at zero generation, according to the Nuclear Regulatory Commission (NRC). The Exelon (NYSE:EXC) Oyster Creek plant in New Jersey is offline for equipment repair while the Public Service Enterprise Group (NYSE:PEG) Salem 2 facility, also in New Jersey, is offline for a refueling outage.

Meanwhile the NextEra Energy (NYSE:NEE) Turkey Point 3 facility in Florida is back up to 95% generation at running at significantly reduced power due to maintenance work.

 

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.