Dive Brief:
- Day-ahead and real-time power prices fell in June in the Midcontinent Independent System Operator market due to more availability of generation and less system congestion.
- At MISO’s highest-priced hub, the Texas on-peak real-time price averaged $44.08 per megawatt-hour in June, down from May's $87.26 per megawatt-hour, and the on-peak day-ahead price averaged $66.21 per megawatt-hour in June, down from May's $82.13 per megawatt-hour.
- With planned and forced generation outages at 22,000 megawatts in June, down from May's 45,000 megawatts, the overall MISO on-peak real-time price averaged $44.27 per megawatt-hour in June, down from May's $51.72 per megawatt-hour, and the on-peak day-ahead price averaged $48.33 per megawatt-hour in June, down from May's $52.10 per megawatt-hour.
Dive Insight:
MISO's highest on-peak real-time average price in June was $49.95 per megawatt-hour, in Michigan, and the lowest on-peak real-time average price was $37.81 per megawatt-hour, in Arkansas. The lowest on-peak day-ahead average price in June was $40.47 per megawatt-hour, in Minnesota.
The overall MISO June average real-time price of $36.95 per megawatt-hour was almost 28% more than the $28.89 per megawatt-hour price for June 2013 and the overall June average day-ahead price of $39.22 per megawatt-hour was more than 25% higher than June 2013's $31.27 per megawatt-hour.
MISO's cleared physical load was 58.5 million megawatt-hours in June, up from May's 52.8 million megawatt-hours and June 2013's 41.5 million megawatt-hours. The 111,000 megawatt year-to-date peak load came June 17, 2014, and the real-time cleared load value was $2.17 billion in June, up from May's $2.16 billion and June 2013's $1.2 billion.
