Power prices for delivery
today in New England fell to an 11-day low as increased power
supplies damped prices.
“Just about everything is back in service,” said Rick
Zimbone, senior analyst with EnvaPower Inc. in Allston,
Massachusetts, a forecasting service for traders. “Most of the
planned maintenance work just got done, including a lot of base-
load capacity,” he said, referring to power plants that run
continuously.
The New England Power Pool, which coordinates electricity
supplies in the region, predicts 26,086 megawatts will be
available today, up 3,795 megawatts, or 17 percent, from the
22,291 megawatts available yesterday.
The increase more than offsets a 400-megawatt increase in
peak demand predicted by the pool for today as cooler
temperatures move into the region.
Temperatures in Boston are expected to drop to a high of 45 degrees
Fahrenheit (7 degrees Celsius) today and 32 degrees tomorrow from 50 degrees today, the National Weather Service
said. About 12 percent of heating needs in the Northeast are
provided by electricity, according to the U.S. Department of
Energy.
Power prices for delivery in the New
England Power Pool fell $2.38, or 5 percent, to $44.00 a megawatt-
hour at 9:20 a.m. yesterday morning, according to Bloomberg data. It was
the lowest price since Nov. 14. A megawatt-hour is enough
electricity to power 800 typical U.S. homes for an hour.
Bloomberg News
