SoCal spot gas prices soar as California ramps up thermal generation to keep cool

摘要

Spot gas prices in Southern California climbed above $7/MMBtu in June 29 trading as the region turned to gas-fired generation to cope with an ongoing heat wave while power imports dropped. Cash SoCal city-gate gained 52 cents to reach $7.07/MMBtu in June 29 trading for next-day flows, according to preliminary settlement data. Spot gas price locations that represent entry points for gas flowing toward the SoCalGas system saw similar movement: SoCal Gas spiked $1.63 at $6.97/MMBtu.