New England Spot Power Prices Spike

BOSTON -- Spot electricity prices in the New England Power Pool increased today as cold weather was expected to take over the Northeast.

Day-ahead power prices in NEPOOL gained $1.75 today, to average $51.00 a megawatt hour, a Bloomberg survey shows. High temperatures in Boston were forecast to drop over the weekend to 39 degrees Fahrenheit Sunday and 44 degrees Monday from today's high of 51 degrees, according to Lexington, Massachusetts- based Meteorlogix.

Weather Derivatives Inc., of Belton, Missouri, reported Monday's expected heating demand across New England was 43 percent above normal.

The Nuclear Regulatory Commission's Operations Center said all nuclear power plants in NEPOOL were running at full capacity this morning.

Electricity prices for next week delivery rose 50 cents today, averaging $50.50.

Source: Bloomberg Energy