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November, 2002, Market Analysis Report

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Summary:

Market Analysis Report for October 2002, Board of Governors Meeting, November 21, 2002

Extract:

Average wholesale electricity costs to serve load rose in October to $47 per megawatt-hour (MWh), as utilities served a larger portion of load from high-cost long-term energy contracts entered into in 2001. Total forward-scheduled energy was 1.0 percent below actual load on average in October, compared with 3.0 percent in September, reflecting utilities’ increased forward purchases. Consequently, the average volume of real-time incremental (INC) energy decreased 60.9 percent to 147 megawatts (MW) in October. The average price of real-time INC energy was $59.62/MWh in October, reflecting a 3.3 percent increase since September. In off-peak hours, forward schedules often exceeded actual load, but average overall real-time decremental (DEC) energy volume still declined 21.1 percent to 265 MW in October.

Document Locations:

• Market Monitoring - 2002 Reports and Presentations