There will be enough electricity on hand to meet demand in the North Country and around the state and wholesale electricity prices are expected to stay flat this summer, according to a New York State …
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There will be enough electricity on hand to meet demand in the North Country and around the state and wholesale electricity prices are expected to stay flat this summer, according to a New York State Public Service Commission report.
Based on current projections from the New York Mercantile Exchange (NYMEX) data, summer electric prices — June through September — are expected to be about the same as they were last summer. Actual prices can vary from the forecasts due to a number of factors such as weather and economic conditions, the PSC staff report notes.
Peak summer loads have been generally in the 33,000 MW range, compared to a winter peak of about 24,000 MW. In the summer of 2013, New York set a record peak load of 33,955 MW, surpassing the previous record set in August 2006. One megawatt is enough electricity to power between 800 to 1,000 average-sized homes.
According to the New York Independent System Operator (NYISO), there are adequate resources to provide necessary supplies of energy and reserves to meet the summer load projections. Transmission owners also report that their transmission facilities are prepared to meet peak projected load in each of their service territories.
In addition to having adequate electricity supplies, electric utilities have taken steps to strengthen the infrastructure prior to the start of the summer hurricane season, which began June 1. PSC staff said they were satisfied with the preparations taken to meet expected system needs in the event of a hurricane or other abnormally severe weather. Staff will continue to track and monitor the utilities efforts in preparation for the upcoming summer period, as well as any utility contingency plans, if necessary, a press release from the PSC said.
Detailed load studies have determined where overloads and other problems might occur on the distribution system this summer. A number of projects were identified, with completion dates prior to this summer, to alleviate the potential concerns. Overall, the utilities cite reduced load growth, mild summers, and the recent completion of a number of major capital projects throughout the service territories as factors that limited the required project workload on the distribution system, the PSC report said.