A MWh (megawatt-hour) is a unit of measurement used to describe the amount of electricity produced or consumed. It is equal to 1 million watt-hours or 1,000 kilowatt-hours.
Source: https://www.pjm.com/Glossary
Power forward contracts for this summer are trading north of $100/MWh in PJM, NYISO, and ISO-NE. Implied forward spark spreads – an indicator of the profitability of gas-fired power plants – have exploded, greatly exceeding anything that has historically been realized in the power markets.
In the March issue of Energy Watch, we produce our 9-month Northeast Electricity Price forecast for PJM, ISO-New England, and NYISO. Here is what to look for: 1) PJM power prices surged in February as cold winter weather boosted delivered natural gas prices. 2) On-Peak power prices in ISO-New England jumped to $82.90/MWH in February as cold winter weather drove the average price of delivered natural gas at Algonquin Citygate to $8.89/MMBtu. 3) New York power prices climbed in February as cold weather supported strong gas prices. On-peak power prices in Zones J and G cleared at $73.89/MWh and $67.41MWh, respectively.
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ESAI Power is a market research and consulting firm that delivers focused analysis of the wholesale power markets in the Northeast region of the US: PJM, NYISO, and ISO-NE. Since 2001, ESAI has been providing market-focused research product content and custom consulting services for Northeast power market participants including investors (banks, private equity, & hedge funds) & developers, generation owners & operators, utilities & retail electricity suppliers, regulators & RTOs, traders, and end-users & buyers.