Dive Summary:
- Despite separate incidents at two N.Y. power plants, power prices on the N.Y. electricity market dropped to the $60s, far below last week's predictions for prices in the $80s.
- Citing the need to work on a valve, Entergy decreased its 1,006-megawatt (MW) Indian Point 2 nuclear reactor to 25% power over the weekend; Constellation Energy's 630-MW Nine Mile 1 reactor was shut down on Monday, also due to the need to work on a valve.
- Despite the heat and reduced power coming from those two plants, N.Y. Independent System Operator spokesman Ken Klapp remained optimistic that expected cooling demand would be met, saying, "We are not anticipating any issues on the system."
From the article:
On Monday, the NYISO forecast power usage would peak at 28,700 to 30,300 megawatts for the Monday to Wednesday period.
Last week, the NYISO forecast demand this week would reach 31,400 to 32,100 MW early this week. That is still well below the NYISO's all time record demand of 33,939 MW set in August 2006, before commercial and industrial power usage declined during the economic crisis.