U.S. West Electricity Prices Decline Amid Boost in Hydro Production
San Francisco, May 5 (Bloomberg) -- Wholesale electricity prices in the U.S. West dropped after a rainstorm boosted power production at hydroelectric dams in California.
San Francisco received almost an inch of rain over the past three days, according to AccuWeather.com. That's more than triple the normal amount of precipitation for this time of year, the forecaster said.
"We're kind of on the tail end of that storm we had, and should get some pretty decent runoff here the next couple days," said Steve Hance, an electricity trader at Silicon Valley Power, the municipal utility in Santa Clara, California. "Hydro use is way up, so that's pushing prices down a bit."
Wholesale power in Northern California dropped $3.48, or 8.5 percent, to $37.50 a megawatt-hour at 6:51 a.m. local time, according to Bloomberg data. The price rose 13 percent on Friday. Southern California electricity fell $2.59, or 6.1 percent, to $39.64 following a 10 percent boost on Friday.
In California, power use will likely peak at 27,964 megawatts tomorrow, down from a forecast peak of 28,174 megawatts today, according to the California Independent System Operator, the agency that manages the state's power grid. One megawatt can power 800 typical U.S. homes, the U.S. Energy Department estimates.
At the California-Oregon border, electricity dropped $1.50, or 4.2 percent, to $34 a megawatt-hour. At Washington's Mid- Columbia trading point, a benchmark for the Northwest, the price declined 88 cents, or 2.8 percent, to $30.32. Mid-Columbia power traded as low as $30 a megawatt-hour this morning on the Bloomberg PowerMatch trading system.
At the Mead substation, near Hoover Dam at the border of Nevada and Arizona, wholesale power fell 83 cents, or 2.1 percent, to $38.17 a megawatt-hour.
Arizona Public Service Co.'s Palo Verde 3 nuclear reactor in Wintersburg, Arizona, is producing 100 percent of its 1,270- megawatt capacity after being taken out of service March 29 for refueling, utility spokeswoman Sheri Foote said. The plant restarted on April 30. -Daniel Taub
yitbos
_________________________________________________
Wholesale power in Northern California dropped $3.48, or 8.5 percent, to $37.50 a megawatt-hour at 6:51 a.m. local time, according to Bloomberg data. The price rose 13 percent on Friday. Southern California electricity fell $2.59, or 6.1 percent, to $39.64 following a 10 percent boost on Friday.
____________________________________________________
I thought the power was more expensive here on the West Coast. Hmmmmm!
Saw an article last week that stated CA could be in trouble if temp is even slightly above norm. The reason stated was hydro was so low historically, that the demand would have to be made up with gas-fired.
Interesting articles you've posted....you trade megawatts?