US Western day-ahead packages continued their upward momentum June 9 on the Intercontinental Exchange, with demand forecast to remain strong. In the Northwest, Mid-Columbia on-peak for June 10 delivery was valued around $20/MWh, rising almost 35% from the previous assessed price. The corresponding off-peak climbed about $3 to price just below $4/MWh. Temperatures across the Northwest were forecast slightly above average in the mid-70s F, according to CustomWeather. In California, SP15 day-ahead on-peak followed suit, increasing about $2.50 to price near $29/MWh. Power packages traded higher on ICE for the second consecutive trading session as regional demand is forecast to remain strong June 10, putting upward pressure on the spot electricity market. In the California Independent System Operator footprint, peakload demand is forecast to rise 3.6% to 34.9 GW on June 10, up from 33.7 GW forecast for June 9. With demand increasing, S&P Global Platts renewable curtailments declined to nearly 11 GW June 8, though still relatively strong. Across the Southwest, packages also traded up on ICE. Palo Verde on-peak climbed about $2.50 to trade around $25/MWh. Likewise, the corresponding Palo Verde off-peak was valued about $2.50 higher to price around $21/MWh.
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