With the departure of warmer-than-normal temperatures across the West, regional energy prices deflated over the trading week.
Between Sept. 5 and 6 alone, Western power prices fell between 21 and 47 percent. Over the Sept. 5 to Sept. 12 trading period, prices dropped between 17 and 62 percent.
Palo Verde daytime power lost the most value during the trading period, plunging $54.50 to $34/MWh. By Sept. 12, prices ranged from $33.05/MWh at Mid-Columbia to $41.45/MWh at South of Path 15.
Off-peak power values tumbled as well, moving between $2.90 and as much as $8.50 lower in trading. California-Oregon Border lost the most value, down $8.50 to $27.50/MWh. Prices ranged from $24.75/MWh at Palo Verde to $32.75/MWh at SP15.
California ISO demand reached 41,421 MW Sept. 6. Total renewables on the CAISO grid reached 16,825 MW Sept. 8, fulfilling roughly 54 percent of demand. Thermal generation peaked at 18,815 MW Sept. 6, about 45 percent of demand.
Western natural gas prices trended higher throughout trading, with hubs adding between 2 cents and as much as 66 cents per MMBtu in trading. El Paso-Permian Basin values increased the most, ending at $1.57/MMBtu. SoCal CityGate natural gas proved the exception, eroding 6 cents, but managing to stay above $4 at $4.02/MMBtu.
Henry Hub prices gained 15 cents to end at $2.58/MMBtu.
Working natural gas in storage was 3,019 Bcf as of Sept. 6, according to the U.S. Energy Information Administration. This is a net increase of 78 Bcf compared with the previous week.
Meanwhile, Southern California Gas Co. pushed back the estimated return-to-service date for Line 235-2 yet again.
In a Sept. 11 pipeline status report, the utility said the line might be back in service by Oct. 14. Once returned to service, it will be inspected again. Line 235-2 has been out of service since rupturing and exploding on Oct. 1, 2017. Additional leaks were found in remote locations as the line was being brought back to full pressure, SoCal Gas said.
Line 4000 work is set to begin Sept. 19. The line will be taken out of service for validation dig activities and should return to service Nov. 14.
No progress was reported on repairs to Line 3000. There have been no changes on the line reported since the initial status report was released Jan. 28. It had been out of commission since July 2016 and is now back in service at reduced pressure, which does not increase system capacity due to the bottleneck created by the outages on lines 235-2 and 4000, but does increase redundancy, according to the California PUC.