August 2014 – North American Electricity Day-Ahead Price Analysis with ZEMA


ICE North American Electricity Day-Ahead Prices (Aug. 2014)

On the Intercontinental Exchange (ICE), electricity day-ahead prices fluctuated in different directions in August 2014 when compared to the previous month. From July to August 2014, electricity day-ahead prices fell in NYISO by 23% to $38 USD/MWh, in PJM by 17% to $40 USD/MWh, and in CAISO’s SP15 by 6% to $50 USD/MWh. On the other hand, ERCOT (Texas) day-ahead prices rose by 10% to $40 USD/MWh when compared to the previous month.

 

When comparing August 2014 to August 2013, data from ICE shows that NYISO and PJM dropped by 17% and 5% from $46 USD/MWh and $42 USD/MWh, whereas CAISO’s SP15 and ERCOT went up by 11% and 9% from $45 USD/MWh and $37 USD/MWh in 2013, respectively.

 

According to the latest EIA “Short-Term Energy Outlook” report, which was released on August 12, 2014, residential sales of electricity in 2014are expected to average 2.1% more than in 2013.[1] Although the EIA estimates that U.S. retail sales of electricity to the industrial sector will remain relatively flat in 2014, the commercial sector is expected to push electricity sales by 1.2% in 2014 due to the strong growth of industrial consumption in the West South Central area. On the supply side, EIA projected that total U.S. electricity generation in 2014 is expected to grow by 1.1% from 2013 to an average of about 11,200 gigawatt hours per day. According to the EIA’s latest report, coal and natural gas are the leading sectors in U.S. electricity generation, as they have the largest share of total generation–41% and 28%, respectively.

 



[1] “Short-Term Energy Outlook – August 12, 2014 014,” U.S. Energy Information Administration, August 12, 2014, accessed August 25, 2014, http://www.eia.gov/forecasts/steo/report/electricity.cfm.

Data Sources: ICE


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