New York City Power Climbs on Higher-Than-Expected Demand

Spot wholesale electricity prices gained in the New York City market on higher-than-expected demand.

Power consumption in Manhattan and its four neighboring boroughs averaged 6,476 megawatts in the hour ended at 1 p.m., up 3.5 percent from the same time yesterday, according to New York Independent System Operator Inc. data compiled by Bloomberg.

Power prices for New York City gained $8.81, or 21 percent, to average $50.49 a megawatt-hour during the hour ended at 1 p.m. from the same time yesterday, grid data showed.

New York on-peak power traded at a premium to Boston of $3.95, compared with a $13.56 discount yesterday and a three-month average discount of $14.13.

The high in New York was expected to reach 50 degrees Fahrenheit (10 Celsius), 16 below normal.

To contact the reporter on this story: Jonathan N. Crawford in New York at

To contact the editors responsible for this story: Bill Banker at Charlotte Porter

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.