Resources & Stats

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Highlights:

Electricity peak prices decreased $5-9/MWh at the Palo Verde and SP 15 hubs but increased $5-51/MWh at the other four hubs. The NEPOOL hub increased $51/MWh due primarily to unplanned generation outages. ISO New England declared a “power watch” last Thursday by asking customers to conserve electricity due to the lack of supply. ERCOT prices increased $27/MWh to its highest weekly price since summer 2006 due to a warming trend, higher load forecasts, and stronger spot gas prices (Platts, see pages 1 and 3).
Gas prices at the Henry Hub increased $0.17 to $10.91/MMBtu. The last time spot gas prices were this high was in December 2005 – several months after Hurricanes Katrina and Rita hit the Gulf Coast (see pages 1 and 3).
Estimated nuclear plant availability remained at 79 percent last week. Two units began refueling and five finished. Hatch 2 shut down briefly last week for scheduled maintenance (see pages 2 and 4).
Uranium spot prices fell to $60/lb U3O8 (see pages 1 and 3). The United States and Russia signed a bilateral Agreement for Peaceful Nuclear Cooperation (123 Agreement) on May 6, 2008, which sets the legal foundation for cooperation between the two countries in the peaceful uses of nuclear energy (UxC). Also on May 6, Areva selected a site in Idaho to build a centrifuge enrichment plant. The plant is expected to begin construction in 2011 and be online by 2014.

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