WEST POWER TRAC KER: Prices tumble in April on lower demand, gas prices

摘要

Day-ahead power prices across the West sank both month on monthand year on year for the month of April, driven by lower natural gasprices and declining demand.The biggest month-on-month declines occurred in the Northwest.Mid-Columbia day-ahead on-peak prices averaged in the upper $10s/MWh in April, falling 78% from March’s average in the upper $70s/MWh.Year on year, Mid-Columbia was down 3%. California-Oregon Borderday-ahead on-peak prices also averaged in the upper $10s/MWh, down67% month on month and 11% year on year.On two days in late April, Mid-Columbia prices sank below $10/MWh. The last time Mid-Columbia day-ahead on-peak traded below$10 was in June 2018.Year on year, the most significant decline occurred at Palo Verde,where the day-ahead on-peak price declined 25% year on year to averagein the upper $10s/MWh. Month on month, Palo Verde was down 31%.