On the ICE, July 2015 day-ahead peak electricity prices in NYISO, represented by Zone A, and ERCOT, represented by North 345kV, had the highest fluctuations among all observed regions. Prices at ERCOT began to increase as of July 2, 2015, and July 8, 2015, respectively. NYISO Zone A prices rose from 35 USD/MWh on July 2 to 40 USD/MWh on July 10, settling at 36 USD/MWh on July 20.According to ERCOT, electricity demand in July has led to record usage. In fact, electricity demand between July 13 and July 21 broke three consecutive July records. This week, for the first time since July of 2011, usage was above 67,000 megawatts. Heat and weather conditions are the main contributor to the increased demand.
Prices at CAISO and PJM both followed downward trends this month, although they differed markedly in the significance of those declines. Prices at CAISO SP15 began the month at 47 USD/MWh before dropping to 42 USD/MWh on July 20, strongly contrasting the decrease in PJM, which fell from 39 USD/MWh to 36 USD/MWh.
When comparing July 2015 to July 2014, ICE data indicates that all prices saw a decline, with the greatest declines being seen in CAISO’s SP15, which experienced a 23.6% decrease, and PJM’s APS, which fell by 18.2%.
PJM prices remained relatively flat throughout the first three weeks of July, averaging 38 USD/MWh.
Data Sources: ICE