Sept. 6, 2002 — Western U.S. spot electricity prices have remained relatively steady over the past several days with only moderate fluctuations, the Energy Information Administration (EIA) reported.
COB prices ranged between $24.90 and $28.00 per megawatthour, while prices at NP-15 and SP-15 ranged between $30.00 and $35.05 per megawatthour. Relatively cool weather contributed to stable prices in the region.
Electricity prices in the Mid-continent region have been falling over the past two trading days as cooler weather has reduced the demand for electricity. Cinergy’s price has fallen almost $5.00 per megawatthour from its high of $35.36 per megawatthour on August 30 to $30.97 per megawatthour on September 4.
Similarly, prices in the Northeast have also been falling the past two days as cooler weather has set in across the region reducing the demand for electricity. The largest percentage drop occurred in New England where prices fell 26% to $35.13 per megawatthour on September 4. In New York City, prices fell 19% to $52.50 per megawatthour on September 4 and at the PJM West, prices fell 14% to $34.61 per megawatthour.
Over the past seven days, the average price at all trading centers has ranged between $36.90 and $31.47 per megawatthour.