Spot wholesale electricity in Boston slid as power consumption fell below expectations.
Power use on the ISO New England Inc. grid averaged 17,467 megawatts at 10:20 a.m., below the day-ahead forecast of 17,540 megawatts, according to the grid’s website.
The high temperature today in Boston may reach 30 degrees Fahrenheit (minus 1 Celsius), 2 above yesterday’s high, according to AccuWeather Inc. in State College, Pennsylvania.
Spot power in Boston declined $84.14, or 40 percent, to average $128.48 a megawatt-hour for the hour ended at 10 a.m. from the same time yesterday, grid data compiled by Bloomberg show. Power in New York fell $62.94, or 54 percent, to average $53.98 a megawatt-hour.
New York on-peak power traded $90.11 below Boston, compared with a discount of $72.58 yesterday and a three-month average discount of $18.44 for New York.
At PJM Interconnection LLC’s benchmark Western hub, which includes Washington, spot power slid $39.09, or 39 percent, to average $62.24 a megawatt-hour at 10 a.m., while prices at the Eastern hub, which includes New Jersey, declined $49.03, or 41 percent, to average $70.15.
PJM West on-peak power traded $9.76 below the Eastern hub, compared with a discount of $7.90 yesterday and a three-month average discount of $11.22 for PJM West.
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