Electricity Prices Rise From Dallas to Boston

Spot wholesale electricity rose from Texas to Massachusetts as demand exceeded expectations.

Power use on the Electric Reliability Council of Texas Inc. network averaged 31,552 megawatts for the hour ended at 9 a.m. local time, versus the day-ahead forecast of 31,441 megawatts, according to the grid’s website.

Wind-power production on the Ercot grid averaged 2,559 megawatts for the hour, below the day-ahead forecast of 2,759. Wind accounted for almost 10 percent of the power generated on the grid last year.

The high temperature today in Dallas may reach 71 degrees Fahrenheit (22 Celsius), 1 above yesterday, according to AccuWeather Inc. in State College, Pennsylvania.

Spot power at the Texas North hub, which includes Dallas, advanced $6.19, or 26 percent, to average $29.86 a megawatt-hour for the period ended at 9 a.m. from the same time yesterday, grid data compiled by Bloomberg show. Houston hub prices gained $5.93, or 25 percent, to average $29.85.

New York City spot power rose $7.09, or 25 percent, to average $35.61 a megawatt-hour for the hour ended at 10 a.m. New York time from the same period yesterday, while Boston prices advanced $23.94, or 88 percent, to average $51.07.

New York on-peak power traded $15.04 below Boston, compared with a discount of $8.34 yesterday and a three-month average discount of $10.40 for New York.

At PJM Interconnection LLC’s benchmark Western hub, which includes Washington, spot power fell $34.43, or 52 percent, to average $31.30 a megawatt-hour at 10 a.m., while prices at the Eastern hub, which includes New Jersey, slid $26.54, or 47 percent, to average $29.48.

PJM West on-peak power traded $2.41 above the Eastern hub, compared with a premium of $51.10 yesterday and a three-month average discount of $7.70 for PJM West.

To contact the reporter on this story: Harry R. Weber in Houston at hweber14@bloomberg.net

To contact the editors responsible for this story: Dan Stets at dstets@bloomberg.net Charlotte Porter, Bill Banker

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