SPP: June power prices barely rose year-over-year
Monthly average power prices in SPP’s integrated marketplace “are some of the lowest monthly and annual average electricity prices since the start of SPP’s first market,” according to a report to the SPP board and members committee meeting presented this week, Platts reported.
On the Panhandle Eastern Pipeline, spot gas averaged $2.60/MMBtu in June, up a quarter from June 2016.
Earlier this year, SPP announced it had set a new record for wind penetration, serving 52.1% of its load with the renewable generation. The rapid growth of renewables on the system has helped create a well-functioning market on the back of large transmission projects.
As recently as the early 2000s, SPP’s generating fleet included less than 400 MW of wind. But the RTO has approved the construction of more than $10 billion in high-voltage transmission infrastructure over the last decade, helping bring wind power from projects in the Midwest.