Western power dailies rise as gas prices fall

摘要

Next-day on-peak power prices across the western US climbed slightly Wednesday, even as natural gas prices fell. Mid-Columbia on-peak day-ahead rose $2.50 Wednesday, trading in the upper $10s/MWh on the Intercontinental Exchange for Thursday delivery. High temperatures in Portland, Oregon, are forecast to remain in the mid-50s Thursday, about 5 degrees below seasonal norms, according to CustomWeather. Wind generation in the Bonneville Power Authority footprint reached 49,415 MW Tuesday from just 2.445 MW Monday. Wind generation made up about 15% of the BPA generation mix Tuesday, the highest level since late January. As wind generation rose, BPA thermal generation declined. BPA thermal generation dropped to 11,375 MW Tuesday from 34,920 MW Monday. In California, SP15 on-peak day-ahead rose $2.75 Wednesday, trading in the low $20s/MWh on the Intercontinental Exchange. Spot gas at the Southern California Gas city-gate moved in the opposite direction, shedding 16 cents to average $2.736/MMBtu for Thursday flow.