West Tracker: Forwards surging on weak hydro forecast, gas drives up spot power

摘要

Summer power forwards are surging across the US West with watersupply forecasts indicating a weak hydro season while natural gas prices are more than double year-ago levels, putting pressure on power spot prices. West wholesale spot power prices averaged 86% higher year on year in April, the biggest year-on-year movement across the US, as spot gas prices averaged 79% higher.