Boston Power Bulls Cheered as Dark Skies Drive Up Grid Useby
Genscape analyst cites increased lighting load for price gains
On-peak power heads to highest full-day average since Sept. 9
On-peak power in Boston jumped to the highest level in three weeks as residents kept their lights on amid dark, rainy skies at the same time more generators were down for maintenance.
Consumption on the ISO New England Inc. network was 17,907 megawatts at 11:15 a.m. New York time, 2.7 percent above the day-ahead forecast of 17,430 megawatts, according to the grid’s website.
Boston on-peak power rose $3.23 to $109.73 a megawatt-hour for the hour ended at 11 a.m., heading toward the highest full-day average since Sept. 9, according to grid data compiled by Bloomberg.
"Currently, many generators are down for maintenance, so deviations for load forecasts are more likely to impact prices," Ben Chamberlain, a Boston-based Genscape Inc. analyst, said in an electronic message responding to questions. A mixture of greater humidity and additional lighting due to dark skies also was driving Boston prices higher, he said.
Spot power in Boston more than tripled, advancing $121.49 to average $176.24 a megawatt-hour, while New York City power slid $4.09, or 7.8 percent, to average $48.54.
New York on-peak power traded $62.54 below Boston, compared with a discount of $9.17 on Tuesday and a three-month average discount of $2.63.