WEST POWER TRACKER: Prices slump on lower demand, falling natural gas

摘要

Western US power prices sank month on month across the boardduring May, and most also fell year to year, as hydro generationincreased and gas prices fell. But forwards were buoyed byexpectations for weaker hydro output and higher natural gas prices.Palo Verde day-ahead on-peak plummeted 31% month on monthand 41% year on year to average $12.82/MWh, the lowest price for themonth of May since 1996.California day-ahead on-peak locational marginal prices had thelowest average for the month of May since at least 2013. SP15 dayaheadon-peak averaged $18.34/MWh, down 21% month on month and18% year on year. NP15 was slightly higher, averaging $18.53/MWh,down 15% from April and 14% year on year.