NYISO POWER PRICES DIP ON CHEAPER NATURAL GAS, LIGHTER LOADS: REPORT
Houston (Platts)–15 Mar 2016 606 pm EDT/2206 GMT
Lower natural gas prices and lighter loads pushed real-time wholesale power prices lower from January to February in the New York Independent System Operator, according to a report to be presented to stakeholders Thursday.
Rana Mukerji, NYISO’s senior vice president for market structures, is expected to report that January’s load-weighted real-time locational marginal prices were about a quarter of January 2015 prices.
Mukerji is on the agenda of Thursday’s NYISO Business Issues Committee to present the Market Operations Report, which shows that load-weighted real-time LMPs were $25.61/MWh this February, compared with $31.80/MWh in January and $101.34/MWh in February 2015.
At the Transco Zone 6 New York hub, natural gas averaged $3.01/MMBtu in February, down from $3.77/MMBtu in January, according to the presentation, which was posted on the NYISO website on March 10. In February 2015, natural gas at that location averaged $16.011/MMBtu, according to Platts data.
Average daily power sendout was 436 GWh/day this February, down from 439 GWh/day this January and 481 GWh/day in February 2015, the presentation said.
Average power cost, which includes both energy and ancillary services, was $34.02/MWh this February, down from $36.42/MWh in January and $87.74/MWh last February.
Long Island had the highest real-time average LMP in February, at $34.52/MWh, while the West Zone A had the lowest real-time average LMP, at $15.25/MWh.