Aug. 13 (Bloomberg) -- Spot wholesale electricity fell from New York to Maine as mild weather and rain caused consumers to use less power than grid operator expected.
Demand in New York City was 8,185 megawatts at 4:14 p.m., 3.8 percent lower than the day-ahead outlook while New England consumption was 5.3 percent below forecasts earlier in the afternoon, according to the regional grid operators’ websites.
The high temperature in Manhattan today was 76 degrees Fahrenheit (24 Celsius), 7 below normal, while Boston’s reading was 7 lower than the average at 73 degrees, according to AccuWeather Inc. in State College, Pennsylvania.
“This weather is just really putting a damper on things,” said Kate Trischitta, director of trading at Consolidated Edison Inc.’s wholesale energy trading unit in Valhalla, New York. “It’s mostly demand slumping,” as eastern electricity use is close to forecasts, she said.
Spot on-peak power New York City dropped for a third day, sliding $10.99, or 22 percent, to $38.74 a megawatt-hour as of 4 p.m. from yesterday’s full-day average, grid data compiled by Bloomberg showed. On-peak hours are Monday through Friday from 7 a.m. until 11 p.m.
Boston’s on-peak average fell $17.96, or 35 percent, to $34.02 a megawatt-hour, the second decline in three days.
Spot electricity on the 13-state PJM Interconnection LLC network, which includes Washington, Philadelphia and Chicago, reversed earlier losses as demand jumped above forecasts amid transmission-line bottlenecks.
Power demand on the largest U.S. grid was 118,060 megawatts at 4:20 p.m., 4.1 percent higher than the day-ahead peak forecast of 113,399 megawatts for the hour ended at 4:30 p.m., according to PJM’s website.
Constellation Energy Nuclear Group LLC reduced power at its Calvert Cliffs 1 nuclear reactor in Maryland to 81 percent of capacity today from 100 percent yesterday to carry out planned work, Kory Raftery, a spokesman at the plant 38 miles (61 kilometers) south of Annapolis, Maryland, said in an e-mail.
The reactor’s summer capacity is 855 megawatts, according to the Energy Information Administration. CENG is a joint venture between Exelon Corp. and Electricite de France SA.
PJM’s benchmark Western hub, which includes deliveries to Washington, rose $7.37, or 15 percent, to $56.34 a megawatt-hour as of 4 p.m.
Spot on-peak power was lower across the Midwest and Texas while the California hubs gained.
--With assistance from Christine Harvey in New York. Editors: Bill Banker, Richard Stubbe