Dive Brief:

• With strong runoff in the Pacific Northwest, generators are paying buyers to take their power.
• Day-ahead, off-peak power was “selling” for negative 50 cents/MWh to 75 cents/MWh for March 14-15 delivery.
• Northwest hydro generation has averaged about 10,700 MW so far this month, up from 6,595 MW a year ago.

Dive Insight:

Earlier this winter, the Northwest got little snow or rain, which was making the power situation for the West look dire. However, storms brought lots of snow and rain to much of the Northwest in February and the outlook has improved significantly. The current forecast for runoff at the Dalles Dam on the Columbia river is 3% above average. If this forecast holds, the Northwest will be able to export power to California, which is dealing with a drought this summer.