Most regional prices below $40/MWh; gas price stays below $4/mmBtu

Spot power and natural gas prices are ending the week about where they started, which is at unseasonably low levels.

Six of the 10 regions tracked by the Energy Information Administration (EIA) reported spot power prices below $40/MWh on Friday Aug. 1. Unusually low summer temperatures kept power prices below $40/MWh in the East, Midwest and even in Louisiana and Houston, according to EIA data.

Meanwhile the New York Mercantile Exchange (NYMEX) price for September delivery of natural gas was $3.84/mmBtu, according to the latest EIA data. The gas futures price has been below $4/mmBtu since July 18.

Gas futures prices do still remain higher than a week ago and one year ago, according to EIA data.

The spot gas price in the Mid-Atlantic was only $2.26/mmBtu on Aug. 1 after dipping to $2.22/mmBtu earlier in the week.

Only two of the nation’s 100 nuclear units are currently offline. They are: NextEra Energy (NYSE:NEE) Saint Lucie 2 unit in Florida and the Southern (NYSE:SO) Vogtle 1 facility in Georgia.

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.