Spot power prices ease in all 10 EIA regions

Spot power prices declined in all 10 regions monitored by the Energy Information Administration (EIA), according to data published on the agency’s website on Feb. 25.

EIA data showed that spot power prices remain in triple digits in both New England and New York City.

New England had the nation’s highest spot power price at $169.38/MWh. Although the price is about 20% lower than the prior day it is still the highest spot power price in the nation. New England also recorded the nation’s highest spot natural gas prices at $29.25/mmBtu.

New York City was second highest in both categories with a spot power price of $154.33/MWh and a spot gas price of $13.58/mmBtu.

The Mid-Atlantic was third highest in both spot power ($86.73/MWh) and spot gas ($13.08/mmBtu).

Outside of those three regions, no other market tracked by EIA showed a spot power price above $40/MWh.

Nine of the 10 regions tracked by EIA showed a decline in spot natural gas prices. New England was the exception.

The weather continues to be cold in much of the East and Midwest. Even some normally warm weather locales, from northern Texas to the Carolinas, could see a mix of wintry precipitation on Feb. 25, according to the National Weather Service (NWS).

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.