With weather forecasts in the Eastern half of the nation tossing around terms like “bitterly cold” and “dangerously cold,” spot power prices in New York City hit $71.02/MWh, according to figures posted by the Energy Information Administration (EIA) on Jan. 19.
The New York City spot price was 115% higher than the previous reported daily price. In addition, spot power prices were up throughout the Northeast and Mid-Atlantic. New England recorded a spot power price of $55.14/MWh and the Mid-Atlantic posted a price of $46.27/MWh.
New York was expecting to see a high of 26 degrees on Jan. 19, with winds gusting between 20-and-40 miles per hour. There was a similar forecast for Boston (24-degree high with 48 mph wind gusts possible) and Washington, D.C. (26-degree high with 31-mph wind gusts).
All three East Coast cities could see significant snow this weekend, according to the National Weather Service.