US West power prices were stronger Tuesday on higher demand expectations, despite lower spot gas prices with temperatures forecast below seasonal norms. In the Northwest, Mid-Columbia on-peak day-ahead jumped $3.50 to around $14/MWh for Wednesday delivery on the Intercontinental Exchange. Off-peak slipped 50 cents to nearly negative 25 cents/MWh, the first negative price in a week. The month-to-date average is $12.50 lower than last May's average. Off-peak prices did not go negative in May 2016. By comparison, off-peak prices this year have been dipping into territory since late March.
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