Northeast prices slip as winter storm subsides

With a nor’easter subsiding, regional spot prices for both natural gas and electricity fell in New England, New York City and the Mid-Atlantic in the most recent price data posted Jan. 28 by the Energy Information Administration (EIA).

New York City had the highest spot power price in the nation still at $88.74/MWh, a figure which is about 15% less than the prior day’s spot price. New England had the second highest spot power price at $83.52/MWh or 5% less than the day before.

On the New England power market front, the Entergy (NYSE:ETR) Pilgrim nuclear plant in Massachusetts remained offline early Jan. 28. The plant was taken offline in connection with a distribution line problem affected by the extreme winter weather.

The Mid-Atlantic spot power price was down almost 6% to $48.12/MWh.

None of the other seven regions monitored by EIA showed spot power prices above $40/MWh.

New England and New York also saw their spot natural gas prices almost 14% and 27% respectively. New England had the nation’s highest spot gas price at $9.20/mmBtu. New York City was next at $9.19/mmBtu.

The Mid-Atlantic spot gas price was down 14% to $5.90/mmBtu.

The other seven regions monitored by EIA all show spot natural gas prices below $3.20/mmBtu.

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.