Western energy prices lifted as weather conditions moved to seasonally normal temperatures, with triple-digit highs posted in portions of Arizona and the San Joaquin Valley the week of June 22.
Daytime power prices in the region generally picked up value in the June 18 to June 25 trading period. Palo Verde daytime power posted the greatest gains among Western peak power prices, jumping $15.10 to $31.25/MWh. North of Path 15 peak power, however, edged 20 cents lower to $27.30/MWh.
Off-peak power prices posted nominal gains in trading, adding between 15 cents and as much as $4. Palo Verde nighttime power gained the most, up $4 to $21/MWh. By June 25, prices ranged from 35 cents at Mid-Columbia to $23.70/MWh at NP15.
After periodically adjusting operations to accommodate BPA hydro generation conditions, the nuclear-powered Columbia Generating Station was operating at full capacity as of June 23, according to the U.S. Nuclear Regulatory Commission. This might be short-lived, however: Energy GPS analysts, in a June 25 note, said they expect "the continuation of plenty of supply from hydro." They also anticipate wind generation to be "up to over 2.8 GWa" starting June 28.
California ISO demand peaked at 36,471 MW June 24, which should be the week's high. Renewable resources supplied CAISO with 15,515 MW, meeting roughly 50 percent of demand, on June 21.
Meanwhile, Western natural gas prices generally rose between 1 cent and 9 cents in June 18 to June 25 trading. El Paso-San Juan Basin natural gas added the most value, up 9 cents to $1.47/MMBtu. SoCal Border natural gas was the exception, eroding 6 cents week over week to $1.50/MMBtu.
National working natural gas in storage was 3,012 Bcf as of June 19, according to the U.S. Energy Information Administration. This is a net increase of 120 Bcf compared with the previous week.
Henry Hub natural gas values added 5 cents to reach $1.50/MMBtu in the EIA's Wednesday-to-Wednesday trading period.
U.S. natural gas demand rose 9.8 percent during the EIA's Wednesday-to-Wednesday report week. Natural gas usage for power generation increased by 20.5 percent compared with the week prior, which the EIA attributes to increases in temperature.
The amount of natural gas in storage in the Pacific region is now 299 Bcf after a 9-Bcf addition, according to the EIA. This is 23.6 percent more than a year ago.
Southern California Gas Co. on June 23 issued an update for work on Line 235-2, located in the Needles/Topock Area Zone. The utility continues to wait on a final report from the vendor that conducted the circumferential inspection of the line, according to the latest ENVOY posting. SoCal Gas continues to forecast that Line 235-2 will return to service Dec. 1.