WEST POWER TRAC KER: Power prices hit five-year highs for December

摘要

Average power prices in the Pacific Northwest, California and the Southwest were between 30% and 87% higher year over year for the month of December, boosted by soaring natural gas prices. Across the board, Western power prices reached the highest December average since 2013. In the Northwest, Mid-Columbia and California-Oregon Border dayahead on-peak bilateral indexes both fell about 5% month on month to average in the low $50s/MWh. However, compared with the same month last year, Mid-Columbia and COB were up 87% and 72%, respectively. California and Southwest power prices were stronger both month on month and year on year. Natural gas prices at Sumas and Pacific Gas & Electric city-gate had the highest December averages since 2009, while SoCal citygate reached the highest December average since 2008, boosting Western power prices.