Western day-ahead packages trended higher Monday for Tuesday delivery, with sustained fire weather and surging gas prices. In California markets, day-ahead prices were mixed following a weekend of several Power Safety Shutoff events from local utility Pacific Gas & Electric. The utility announced Monday morning that additional shutoffs could occur Tuesday morning, with sustained critical fire weather. SP15 traded down $1.75 to near $33.25/MWh, 5% lower than its previous settlement on ICE. Regional gas prices trended up on the day, with SoCal Gas city-gates gaining 40 cents to trade at $3.44/MMBtu. In the Northwest, Sumas gained 67 cents to trade at $3.93/MMBtu.
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