Here's a summary of what went on in the energy markets last week:
Electricity peak prices fell $1-$16 last week across the country to all settle below $40/MWh. “Next-day power markets were mixed but generally lower across the U.S. to open the workweek Monday, Aug. 20, as traders eyeballed higher load forecasts in most areas but also weak natural gas prices and an overall healthier generation picture. … Other sources of generation were improving Monday. According to data from IIR Energy, just more than 19,300 MW of various generation was offline across the U.S. early Monday. By fuel type, 3,866 MW was coal-based, while about 8,150 MW was nuclear-based and 1,969 MW was natural gas-driven” (SNL Energy’s Power Daily – 8/21/12).
Electricity production was down 8.3 percent last week compared to the same week in 2011. For the first 34 weeks of 2012, electricity production is down 2.3 percent compared to the same period in 2011.
For more of the report click here.