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Market Analysis Report

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Summary:

Market Analysis Report for June 2003 (Memorandum), Board of Governors Meeting, July 24, 2003

Extract:

California wholesale energy prices moderated in June as more generation returned to the market and natural gas prices decreased significantly from May levels in response to moderate demand and reports of significant gas storage injections. Actual California ISO system load averaged 26,913 megawatts (MW) in June 2003, 1.6 percent lower than in June 2002, due to mild weather, with a brief heat wave causing the monthly peak load on June 27, 2003 to reach 40,117 MW, exceeding that of June 2001 and 2002. This is the fourth consecutive month that peak loads have exceeded those of last year. There was also significant improvement in forward scheduling in June, particularly during peak hours, where forward schedules were within one-half of one percent of actual load. On June 1, approximately 2,500 MW of capacity additions became available to serve utility load requirements as part of the summer seasonal portfolio of long-term contracts managed by the California Department of Water Resources.

Document Locations:

• Market Monitoring - 2003 Reports and Presentations