Western Price Survey / Archives
November 12, 2004
Western energy markets were stuck in late-week trading with the slide in electricity prices experienced earlier in the week. Because of the Veteran's Day Holiday on Thursday, no trades were made that day. On Friday, when traders returned to work to trade Sunday/Monday power, they had a hard time nudging prices much above Wednesday's highs.
Peak power prices north of Path 15 traded for between 57.25 mills and 62.50 mills/KWh on Friday, with the high gaining 50 cents over Wednesday. Off-peak power at NP 15 changed hands for between 49 and 51.25 mills /KWh on Friday, edging up about 3 cents over Wednesday's trades.
In Southern California, electricity south of Path 15 went for between 53.50 mills and 56.75 mills/KWh on Friday, easing below Wednesday's 59.25 mills/KWh high. Low-demand power in Southern California traded for between 40.75 mills and 44.50 mills/KWh on Friday, up slightly from Wednesday.
Southwest power prices also huddled low. Peak power changed hands at the Palo Verde hub for between 47.75 mills and 50 mills/KWh on Friday, with the high losing 3 cents over Wednesday's trades. Off-peak power at the hub traded Friday for between 37 mills and 40 mills/KWh, inching up 2 cents from Wednesday.
Northwest power prices stayed down while gaining a cent or so late in the week. Peak power at Mid-C changed hands for between 45.25 mills and 47 mills/KWh on Friday. Off-peak power prices ended the week at between 44 mills and 46.25 mills/KWh.
Western natural gas prices continued their slide through the end of the week. Gas delivered to PG&E CityGate ended the week at between $5.80 and $6.12/MMBtu, dropping 10 cents in Friday trading. Gas at the Malin hub changed hands Friday for between $5.36 and $5.64/MMBtu, losing 20 cents. At the Southern California border at Topock, gas traded for between $5.50 and 5.80/MMBtu on Friday, losing 27 cents. Gas prices at the San Juan hub ranged between $5.32 and $5.55/MMBtu on Friday, down 24 cents. And gas delivered to Permian changed hands Friday for between $5.35 and $5.73/MMBtu, shedding 19 cents.
No new gas stocks were added in the West last week, according to the Energy Information Administration, although nationwide, gas storage rose 34 percent to 3,327 billion cubic feet [Cassandra Sweet].
Archives of the Western Price Survey for the past year are also available online.
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