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March 17, 2010
Palo Verde Shows the Only Spark in Prices
Spot prices for electricity in the West were largely ho-hum by midweek, with the exception of the Palo Verde hub.
While average peak prices at most other hubs remained nearly inert -- moving $1/MWh or less up or down -- daytime electricity at Palo Verde gained more than $3 since Monday. Peak prices reached a high of $46.25/MWh on Tuesday as traders looked at weather forecasts of 88 °F high temperatures in Palo Verde the next day and as the 1,311 MW first unit of the Palo Verde nuclear power plant remained offline for repairs.
By Wednesday, daytime electricity in California traded at an average of $47-$48/MWh at South of Path 15 and North of Path 15, down about $1 since Monday.
Peak demand on the Cal-ISO grid is expected to reach 28,862 MW Wednesday and fall to 27,537 MW by Friday. Peak demand is occurring an hour later, at 9 p.m., after a switch to daylight saving time on March 14.
In the Northwest, Mid-Columbia peak prices gained about 80 cents/MWh on average since Monday; California-Oregon Border trades for daytime power dropped about $1 (see chart).
What's ahead: By Saturday, Palo Verde temperatures are expected to dip to a high of 80 °F and Los Angeles will fall a few degrees to a high of 77 °F. In the Northwest, however, temperatures are expected to climb 10 degrees or more from Wednesday levels to 68 °F in Seattle and Portland [Chris Raphael].
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Western Electricity Prices Mid-Week: March 15 - 17, 2010 |
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| Hub | Peak (heavy) | Off-peak (light) |
| Alberta Pool (C$) | 20.32-309.10 | 12.18-28.03 |
| Mid-Columbia | 40.75-45 | 33.50-37.50 |
| COB | 44.50-47.50 | 33.50-37.50 |
| NP 15* | 46.90-48.35 | 33.75-35 |
| SP 15* | 47.50-50 | 33.25-34.50 |
| Palo Verde | 39.75-46 | 31.50-36 |
* 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.
Please contact webmaster@newsdata.com with questions or comments about this site.
Contact Chris Raphael, editor with questions regarding Price Survey Content.
