Thursday, December 8

US PJM power prices rose sharply in Jan.-Sept. -report


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Nov 10 (Reuters) –

Energy prices for PJM Interconnection, the largest US power grid operator, increased significantly in the first nine months of 2022 from the year-ago period, according to a report released on Thursday.

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The report by Monitoring Analytics, the independent market monitor for PJM, assesses the competitiveness of the wholesale electricity markets managed by PJM in 13 states and Washington, DC

“The real-time load-weighted average LMP in the first nine months of 2022 increased 118.2 percent from the first nine months of 2021, from $35.68 per MWh to $77.84 per MWh,” the report said.

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“This was the highest average PJM price ($77.84 per MWh), the highest price increase ($42.16 per MWh) and the highest percent price increase (118.2 percent) for the first nine months of a year since the creation of PJM markets in 1999. “

Coal and natural gas prices rose year-on-year, with variations by time period and area, the report said. Coal and gas prices doubled in the eastern areas covered by PJM.

The real-time hourly average load in the first nine months rose 1.1% to 90,514 MWh from 89,515 MWh in the year-ago period, the report added.

From January through September, generation from coal units decreased by 12.1%, natural gas units increased by 8.7%, and wind and solar units rose 17.1% compared to the year-ago period. (Reporting by Bharat Govind Gautam in Bengaluru; Editing by Richard Chang)



financialpost.com