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El Nino Is Causing California Power Prices to Spike

  • Grid operator said it had difficulty forecasting temperatures
  • California saw price spikes above $1,000 a megawatt hour
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El Niño Is Coming Back: Here's What You Need to Know

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California has yet to see the full force of El Nino, and it’s already tripping up the state’s power-demand forecasters.

The state saw “significant” electricity price spikes in the third quarter as El Nino made it difficult to predict how much power would be needed on hot summer and fall days, the California Independent System Operator Corp. said Monday in a report. Record rainfall and regional cloud cover in Southern California also perplexed forecasters, the grid operator said.