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Winter storms prompt multiple alerts, lift power prices east of Rockies

Increase font size  Decrease font size Date:2019-03-06   Views:83
The Midcontinent Independent System Operator and PJM Interconnection issued cold weather alerts beginning Monday, as the Southwest Power Pool declared conservative operations on top of an existing cold weather alert issued last week as a winter storm system sweeps across the Great Plains and Northeast.

The system will bring snow over parts of the Northeast that will come to a slow end by Monday evening, according to the US National Weather Service. Cold temperatures and high pressure over the Northern High Plains will move southeastward to the Central Plains overnight Monday.
Conservative operations are in effect in SPP from Sunday through Wednesday afternoon across its entire footprint, meaning SPP may increase unit commitment timeframes, reliability margins and operating reserve requirements, and may postpone or cancel maintenance to generation and transmission facilities.

"We remind market participants to take whatever steps are necessary to prepare resources for inclement weather in their area and ensure start-up and run times won't be compromised," SPP spokesperson Derek Wingfield said.

Temperatures across the SPP territory are expected to range from 15 to 25 degrees below normal, according to the SPP. Tulsa temperatures are forecast as low as 9 degrees Fahrenheit Monday, 28 degrees below seasonal norms, according to CustomWeather. Kansas City temperatures could fall below zero degrees Monday.

SPP peakload reached 38.7 GW Sunday and is forecast at 42 GW on Monday, the highest peakload since September. On Tuesday, peakload is forecast to slip 4% to 40.2 GW.

The MISO cold weather alert is in effect Monday through Wednesday, and operators should expect to be contacted about fuel restrictions, according to the alert.

MISO forecast peakload at around 95,600 MW Monday, 95,150 MW Tuesday and 94,600 MW Wednesday, before dropping near 89,500 MW Thursday and then 83,900 MW Friday. If Monday's peakload is reached, it would be the highest level since last January. The five-year peakload average is about 78,175 MW, according to ISO data.

Indianapolis high temperatures are forecast as low as 18 degrees F for Monday, 30 degrees below normal, with lows down to 8 F, 22 degrees below normal.

The PJM cold weather alerts was in effect for Monday. Transmission and generation dispatchers should review plans to determine if any maintenance or testing scheduled or being performed on any monitoring, control or transmission/generating equipment can be deferred or canceled, according to the alert.

PJM forecast peakload at about 114,600 MW Monday, 121,025 MW Tuesday, 121,200 MW Wednesday and 120,875 MW Thursday, some of the highest levels since early February winter storms, before falling near 113,900 MW Friday. The five-year peakload average is about 98,725 MW, according to PJM data.

Temperatures are forecast as low as minus 2 degrees Fahrenheit in Chicago for Monday, 28 degrees below normal, with many areas reaching sub-zero high temperatures by Tuesday.

The colder weather and higher power demand pushed up daily power prices.

PJM West Hub on-peak day-ahead jumped $5.25 to trade in the upper $40s/MWh Tuesday delivery on the Intercontinental Exchange, after rising $6.50 in Friday trading for Monday delivery.

MISO's Indiana Hub on-peak day-ahead added 75 cents to trade in the upper $40s/MWh on ICE, after jumping $15.25 in Friday trading for Monday delivery.

Real-time prices at SPP South Hub reached the low $80s/MWh Monday morning. SPP North Hub real-time traded in the mid-$40s/MWh. By 2:30 pm CST, the SPP South Hub real-time price fell to the mid-$50s/MWh, while the North Hub price remained in the mid-$40s.

On ICE, SPP North Hub on-peak day-ahead was offered at in the mid-$60s/MWh for Tuesday delivery, while SPP South Hub on-peak traded in the mid-$60s/MWh.
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