Dive Brief:
- Electricity prices in the Midcontinent ISO region remained flat from July to August, largely with the help of mild weather and low-cost gas supplies, the grid operator said in a report.
- Real-time prices in the region were about $28.50/MWh in August, compared with about $29 in July and $32 a year ago.
- While MISO set a peak load record in its South region during August, overall system-wide average and peak loads declined 3.6% and 4.2%, respectively, as compared to July, and remained about the same as last year.
Dive Insight:
While MISO's South region saw temperatures spike and set a new peak load record this summer, the grid operator in an informational presentation said average temperatures were slightly below normal in the North/Central Region, and overall prices remained stable from July and below year-ago levels.
The South region set a new peak load record of 32.7 GW on August 10, slightly exceeding the previous record of 32.6 GW set in July. System-wide average and peak loads declined, however, and MISO said energy all reserve product prices "decreased relative to July, consistent with the lower loading conditions in August."
Energy prices for the 2015 summer months were below $30/MWh, MISO said, "and were each at the lowest summer month levels in recent years. ... Low gas prices and relatively mild summer temperatures in the North/Central Region contributed to the low energy prices."
Wind output on the grid jumped nearly 20% from July and 75% from last August, though typical August wind generation is among the lowest in a given year. Wind output, as a percentage of total generation, was at the highest August level in five years, the grid operator said.