California power prices continue falling as demand hits three-month low

摘要

1.Day-ahead power prices in the California Independent System Operator footprint fell once again on Oct. 8 alongside lower demand expectations and weakening natural gas prices. 2.SP15 day-ahead on-peak traded in the upper $20s/MWh on the Intercontinental Exchange for delivery on Oct. 9 and Oct. 10, down $6 day on day. SP15 day-ahead on-peak has fallen for four straight days and reached its lowest price since Sept. 19. 3.The Cal ISO projected a peakload of 29,290 MW on Oct. 9, a fall of 4% on the day to the lowest level since the end of June. Peakload is forecast to further decrease to 26,628 MW on Oct. 10 due to reduced weekend demand. 4.Los Angeles highs are forecast to fall from the upper 70s Fahrenheit on Oct. 8 to the mid-70s on Oct. 9 and 10, according to the US National Weather Service. 5.Spot natural gas prices at the SoCal city-gates fell 48 cents on the day to around $2.429/MMBtu, putting additional pressure on California power prices.