The Bonneville Power Administration in the US Pacific Northwest saw load move above 10,000 MW Wednesday for the first time in years as a winter storm hit the region, according to BPA data.
Load reached 10,377 MW, BPA data showed. That was the highest level seen since December 2013 and one of only six times BPA load has gone above the 10,000 MW mark in the last seven years, according to S&P Global Platts data.
Mid-C on-peak power reached $45.85/MWh for Wednesday delivery, according to Platts assessments. That price is up 105.8% compared with the January 2016 average of $22.28/MWh. Off-peak prices traded at $30.45/MWh, up 48% from the January 2016 average.
Article continues below...
|Request a free trial of: Megawatt Daily|
Megawatt Daily provides detailed coverage of power prices in major US and Canadian electricity markets, up-to-date information about solicitations and supply deals, and information about complex state and federal power regulations.
Colder weather pushed up heating demand across the region, as Portland temperatures reached a high of 33 Wednesday, 13 degrees below normal, according to CustomWeather, while the low temperature was 27, 8 degrees below normal.
Hydro generation accounted for 67.5% of the fuel mix Wednesday, natural gas 20.3% and wind 12.2%, according to BPA data.
BPA is a nonprofit federal power marketing administration markets wholesale electrical power from 31 federal hydroelectric projects in the Pacific Northwest, one non-federal nuclear plant and several small non-federal power plants.
--Kassia Micek, firstname.lastname@example.org
--Edited by Lisa Miller, email@example.com