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September 1, 2010
Western Prices Plunge Sharply
Western electricity prices plummeted at the start of the week and failed to recover by Wednesday.
Average daytime prices started this week between about $10.70 and more than $27/MWh lower than prices posted Monday, August 23. Average peak prices from the Wednesday-to-Wednesday trading period spanning Aug. 25 to Sept. 1 lost between $2.50 and about $18/MWh.
Palo Verde saw the greatest losses for this period. By Wednesday, the average peak price at the hub had decreased by $17.90/MWh from the previous Wednesday and traded at an average of $33.01/MWh, the lowest in the West.
Prices at Northwestern hubs saw the least volatility for the trading period. Mid-Columbia daytime prices traded for an average of $35.76 Wednesday, down $2.68/MWh versus the previous Wednesday. Average peak power prices at the California-Oregon Border came in at around $37.76, down about $5.70/MWh compared with Aug. 25.
South of Path 15 average peak prices closed at $38.27/MWh, down about $1.60 versus the previous Wednesday. North of Path 15 peak, trading at $37.96 Wednesday, lost $2.22 from the previous week.
Average prices for off-peak power in the West were down across the board in Wednesday-to-Wednesday trading with the greatest loss-about $4/MWh -- at Palo Verde. The hub posted an average price for off-peak power of $24.98/MWh Wednesday.
This week's peak demand on the Cal-ISO grid should occur Thursdaywhen use is expected to exceed 41,300 MW.
What's ahead: A weather system approaching the West Coast brings cooler weather to much of the region starting Thursday. Washington and Oregon are expected to start seeing cloudy, cooler weather Friday, which is anticipated to linger through early next week with some showers possible. Inland California continues to be hot, however, and by Friday both Bakersfield and Redlands should see a high of 102 °F [Linda Dailey Paulson].
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Western Electricity Prices Mid-Week: August 30 - September 1, 2010 |
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| Hub | Peak (heavy) | Off-peak (light) |
| Alberta Pool (C$) | 19.76-176.05 | 8.09-29.74 |
| Mid-Columbia | 34.50-41.50 | 20.50-23 |
| COB | 36-43.50 | 21.25-24 |
| NP 15* | 32-38.50 | 22.50-25.25 |
| SP 15* | 32.25-39 | 21.75-25.50 |
| Palo Verde | 31-36.75 | 20-22 |
* Prices represent both day-ahead locational marginal prices (financial swaps, or EZ Gen DA LMPs) and quasi-swap prices (EZ Gen) as reported by ICE.
Archives of the Western Price Survey for the past year are also available online.
The Western Price Survey is excerpted from Energy NewsData's comprehensive regional news services. See for yourself how NewsData reporters put events in an accurate and meaningful context -- request a sample of either or both California Energy Markets and Clearing Up.
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Contact Chris Raphael, editor with questions regarding Price Survey Content.
