Wholesale Power Prices Experience Further Declines in PJM and SPP
Wholesale power prices in the PJM Interconnection and Southwest Power Pool regions experienced declines on November 20th, with West Hub day-ahead contracts averaging a decrease of around $14.25 to settle at $63.50 per megawatt-hour (MWh). The decreases were attributed to bearish market conditions, largely driven by forecasts of warmer temperatures for the following day, which are expected to lead to lower power demand. In addition to these regional trends, US natural gas prices also showed mixed performance, with some markets experiencing declines while others rose slightly.
