Your leader in energy analysis and market fundamentals.
We are officially past the halfway point of 2024 and Q2 is going to have a lasting impression or act as a conversation piece leading into next spring. The activity's foundation is the growing renewable capacity within California and a transmission grid that limited the flow of megawatts to other parts of the state and for a period the Pacific Northwest. Southern California became a little island where the only option CAISO operators and model outputs had was to display negative prices so curtailments would balance the system. In the article, titled 'Bottoms Up - CAISO Midday', we take a look at how the months between March and June unfolded and what it means heading into summer and during the upcoming second quarters.
Figure 1 | NP15/SP15 Real-Time Average Hourly Price Settles by Month
The figure above gets the conversation going as SP15 (orange line) is well below that of NP15 (blue line) for all months on display while the heart of Q2 saw deeply negative prices tap Southern California. To purchase the article, one can click on the link above or sign up for the eCommerce Gold Package. If there is interest in seeing more consistent content tied to the renewable growth across North America, the Platinum Plus package is right for you and or individuals on your team. For multiple licenses, please email us at sales@energygps.com for pricing.