Colder #weather in the West is bringing added demand for #NaturalGas on top of larger geopolitical issues raising the price, such as Russia’s war in Ukraine.
This has driven up the real-time #energy price over the weekend. I’d say a good hourly average for the market here is $20-$150/MW. Last Friday it sounds like #power was trading around $200/MW and this morning the CAISO average is already approaching $400/MW.
@ingalls - Looks like it's going to be a cold couple of weeks ahead too! Will that continue to affect price, or is that already being built in?
@chattwjonathan I think it’s built in to some extent but with the prolonged cold existing storage will decline, further driving up prices. Based on current forecasts and pricing my expectation is that pricing peaks sometime next week.
That said, at work I only handle weather, so consider this an amateurish take. I can interpret current pricing pretty well, and can understand pricing forecasts that I hear, but I don’t forecast pricing/demand myself - just power output.
