Less than one week after three Eastern regions recorded daily spot power prices above $114/MWh, the highest spot power price in the nation was New York City’s $40.28/MWh, according to March 11 figures from the Energy Information Administration (EIA).
In addition, the highest daily spot natural gas price in the nation posted March 11 was only $3.12/mmBtu in New England. But only one week earlier New England, New York City and the Mid-Atlantic all reported spot power prices in excess of $12/mmBtu.
In the daily spot figures posted by EIA on March 11, the Mid-Atlantic had the lowest spot gas price in the nation at only $1.57/mmBtu.
The lower prices are linked with milder temperatures as Boston was expecting a higher temperature of 55 degrees F and New York City was forecast to hit 60 degrees and Baltimore 61 degrees, according to the National Weather Service.