Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Power Falls in New York City With Lower-Than-Expected Demand

May 13 (Bloomberg) -- Spot wholesale electricity slid in the New York City market as demand fell below forecasts.

Electricity use in Manhattan and its four neighboring boroughs dropped to an average of 6,597 megawatts for the hour ending at noon, down 7.8 percent, or 556 megawatts, from the day-ago period and 4.5 percent lower than the forecast.

The high temperature in Manhattan was expected to reach 70 degrees Fahrenheit (21 Celsius), the norm for the date, according to AccuWeather Inc. in State College, Pennsylvania.

Spot power for New York City fell $8.26, or 19%, to average $34.92 a megawatt-hour during the period ended at noon from the same time yesterday, grid data compiled by Bloomberg showed. Prices in the hub for Boston and northeastern Massachusetts dropped $9.46, or 16 percent, to average $49.13.

On-peak power in Boston was trading at an average premium of $1.06 a megawatt-hour to New York City today, compared with a discount of $2.60 yesterday and a three-month average premium of $10.92.

To contact the reporter on this story: Jonathan N. Crawford in New York at jcrawford47@bloomberg.net

To contact the editors responsible for this story: Bill Banker at bbanker@bloomberg.net Charlotte Porter, David Marino

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.