Unseasonably cold air continues to bring frigid temperatures and snow in many parts of the northern United States, and it also continues to exert pressure on spot energy prices.
New York City recorded the nation's highest spot power price at $92.89/MWh or 63% more than the prior day, according to figures posted Nov. 19 by the Energy Information Administration.
New York also had the nation's second most-expensive spot natural gas price at $6.51/mmBtu.
The spot power and gas figures also gave New York City the nation's highest spark spread at $47.31/MWh. The spark spread is a common metric for estimating the profitability of natural gas-fired electric generators.
New York was only expecting to see a high of 32 degrees F on Nov. 19 with wind chill values making it seem much colder.
New England recorded the nation's second highest spot power price at $66.11/MWh. New England had the nation's highest spot gas price at $8.59/mmBtu.
Boston was expecting to see a high temperature of 36 degrees with Southwest winds that could gust up to 26 miles per hour, according to the National Weather Service (NWS).
Boston and New York City, however, are spared from the fate of places like Buffalo, N.Y., which is experiencing “lake effect” snow and heavy winds with a high temperature of only 27 degrees.
The Northwest recorded the nation's lowest spot power price at $37.50/MWh. Five of the 10 regions tracked by EIA recorded spot prices in excess of $53/MWh.
The lowest spot natural gas price in the nation was $4.28/mmBtu. The Nymex futures price for December delivery of natural gas was listed at $4.24/mmBtu.
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