Power price spikes, NYC, Monday – Commodity Research Group

July 27, 2016 by Jim Colburn Leave a Comment

This is not a market I follow closely, but I do wish I owned a storage facility that serves NYC… Here is the story from CNN and Bloomberg:

“The spot price of electricity was $94 per megawatt hour at 2:30 p.m. as the heat climbed over 90˚F. A reading from 3:30 p.m. — shortly after a storm warning — put the price at $1,042 per megawatt hour. The increase was reported earlier by Bloomberg News.”

Here are current prices in NYState:

The CNN article is here:

http://money.cnn.com/2016/07/25/news/companies/new-york-energy-prices-storm/index.html?iid=hp-stack-dom

Here is the NY ISO site:

http://www.nyiso.com/public/markets_operations/market_data/maps/index.jsp

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

Our associates bring decades of experience to the table, as they seek to help our clients understand the markets. CRG will distill the myriad of pricing variables mentioned above into coherent research that is to-the-point and tailored to a clients hedging or pricing needs. In addition, CRG is available for consulting assignments and speaking engagements. CRG does not manage money or trade for itself.

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