Eastern prices remain high and prices firm up elsewhere

Spot power prices in three East Coast regions remained above $150/MWh while both spot power and natural gas prices tended to firm up elsewhere, according to the latest data, posted Feb. 23, by the Energy Information Administration (EIA).

The Mid-Atlantic had the highest spot power price in the nation ($189.59/MWh); the second-highest spot gas price ($13.75/mmBtu) and the highest spark spread ($93.35/MWh).

New York City had a spot power price of $173.86/MWh; a spot gas price of $17.00/mmBtu; and a spark spread of $54.86/MWh.

New England recorded a spot power price of $156.55/MWh; a spot gas price of $13.50/mmBtu; and a spark spread of $62.05/MWh.

Outside of those three regions, spot power and spot gas prices tended to increase. Spot gas prices increased in the other seven regions tracked by EIA. Spot power prices rose in six of the seven regions outside the Northeast.

The Northwest, for example, still had the lowest spot power price in the nation. But its price increased 50% from the prior business day to $24.25.

The Midwest saw its spot power and gas prices increase significantly. It was the highest priced region outside the East. The Midwest recorded a spot power price of $52.06/MWh and a spot natural gas price of $7.08/mmBtu.

The selected spot prices are based upon delivery today (Feb. 23).

Meanwhile, the Nuclear Regulatory Commission (NRC) listed seven of the nation’s 99 commercial power reactors at zero generation early Feb. 23. They include the Tennessee Valley Authority (TVA) Watts Bar 1 facility in Tennessee and the Entergy (NYSE:ETR) River Bend plant in Louisiana. Both units went offline during the weekend.

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.