Lighter loads caused by milder weather in the Southwest Power Pool footprint combined with stronger wind output and weaker natural gas prices to push day-ahead on-peak locational marginal prices for electricity lower in May, compared with May 2018. Looking forward, June, July and August forward packages were mixed, with the North Hub’s forwards generally stronger than the South Hub. The SPP North Hub’s day-ahead on-peak locational marginal prices averaged about 15% higher than April’s, but about 5.5% lower than those of May 2018. SPP South Hub’s corresponding prices were almost 21% higher than April’s but about 5.7% lower than last May’s. The population-weighted average daily temperature in the SPP footprint in May was about 65 degrees F, up from April’s 59 degrees, but down sharply from last May’s 75 degrees F. Consequently, average daily peakloads this May were just about 31.2 GW, compared with April’s 28.8 GW and last May’s 36.8 GW.
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