New York ISO Zone A real-time power spikes to $1,400/MWh on strong demand

Houston (Platts)--16 May 2018 507 pm EDT/2107 GMT

New York Independent System Operator Zone A real-time power prices spiked to $1,400/MWh Wednesday as demand surpassed the forecast peak, while real-time prices in the southern US also jumped despite weather and conservation notices being canceled.

New York ISO Zone A West real-time power spiked to $1,400/MWh at 3:35 pm EDT (1935 GMT) as prices in most other ISO zones were between $100/MWh and $200/MWh.

Zone A load was forecast to peak near 1,751 MW around 3 pm EDT Wednesday, but had already reached 1,951 MW around 2:15 pm EDT, 11% higher than expected, according to ISO data.

Rochester temperatures were about 75 degrees Fahrenheit at the same time, near the forecast high for the day and 7 degrees above normal.

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Systemwide load was about 18,100 MW around 2:30 pm EDT, nearly 4% above the forecast peak for the day, according to ISO data.

NYISO was importing 400 MW from ISO New England and 1,200 MW from Ontario's Independent Electricity System Operator, even as it was exporting 675 MW into the PJM Interconnection footprint around 3:40 pm EDT, 45% above the scheduled level of 450 MW.

The NYISO fuel mix was around 28% hydro, 26% nuclear, 25% dual fuel, 19% natural gas, nearly 2% other renewables and less than 1% wind at 3:50 pm EDT, according to NYISO data.

Further south in the Midcontinent ISO South region, Mississippi Hub real-time power spiked near $300/MWh around 4 pm EDT, as Louisiana Hub was above $175/MWh and Arkansas Hub was near $100/MWh even as the ISO canceled hot weather and conservation operations notices Tuesday evening that were initiated earlier in the week.

Mississippi temperatures were in the upper 80s to low 90s around 4 pm EDT.

MISO load was around 91,869 MW at 3:50 pm EDT, nearing the expected peak of the day of 92,840 MW, according to MISO data.

MISO was importing 2,550 MW from PJM at 3:45 pm EDT, 29% above the scheduled level of 2,000 MW, according to PJM data.

MISO's fuel mix was around 50% coal, 33% natural gas, 12% nuclear, 3.5% other and 1.5% wind at 3:50 pm EDT, according to grid operator data.

--Kassia Micek,

--Edited by Keiron Greenhalgh,

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