Here's a summary of what went on in the energy markets last week:
Electricity peak prices saw small changes at all hubs last week. All prices last week were higher than the previous four-week and last 52-week averages. The Palo Verde and SP 15 hub prices have steadily increased with the price of gas since the beginning of November. Their prices last week were about $20/MWh higher than the last 52-week average. In 2007, Arizona and California relied on gas for 34 percent and 56 percent of their generation (see pages 1 and 3).For the report click here. It is also located on NEI's Financial Center webpage.
Estimated nuclear plant availability fell to 77 percent last week. Four units began refueling while one finished. FitzPatrick and Pilgrim were down briefly on April 6 (NRC, see pages 2 and 4).
Uranium prices fell to $69 and $68/lb U3O8 according to TradeTech and UxConsulting (see pages 1 and 3).
Gas prices at the Henry Hub increased $0.21 to $9.81/MMBtu. After beginning the 2007-2008 heating season at a record level, underground natural gas storage levels declined relative to last year’s levels as the weeks progressed. By the end of the heating season, storage fell below the 5-year (2003-2007) average. Temperatures during much of the heating season were warmer than normal, but colder-than-normal temperatures late in the heating season led to net storage withdrawals that were significantly higher than average (see pages 1 and 3).
In March 2008, six wind farms totaling 508 MW, three gas plants totaling 170 MW and 13 solar projects totaling 1.8 MW came online. From January 2008 to March 2008, 1,332 MW of wind, 485 MW of gas, 92 MW of coal and 58 MW of other renewables came online. By 2012, the following amounts of new generating capacity are expected to come online: 40,000 MW of coal (-1,000 MW from last month’s figure); 59,000 MW of natural gas (no change); and 40,000 MW of wind (-1,000 MW from last month); see page 5.