Insight
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10 Pages

Demystifying Power Prices - A Three Part Outlook


Demystifying Power Prices - A Three Part Outlook

Report summary

This insight focuses on regional power price drivers and outlook, highlighting the increasing relevance of a three-part power price forecast, recently introduced by Wood Mackenzie in contrast to a traditional two-part forecast.

What's included?

This report includes 1 file(s)

  • Demystifying Power Prices - A Three Part Outlook PDF - 627.27 KB 10 Pages, 1 Tables, 6 Figures

Description

This Power Markets Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues within the power industry, this report gives you an expert opinion and analysis to help inform your decision making.

Wood Mackenzie's detailed analysis and reliable market forecasts provide a strong reference, enabling a quick and concise description about the relationship between this event and its implications.

Underpinned by our extensive gas, coal and oil markets research, Wood Mackenzie's detailed analysis and reliable market forecasts provide a reliable foundation for investments and corporate planning. We help you understand key regulatory and economic drivers, and emerging industry tends in the power industry.

  • Summary
  • Three-Part Price Forecast
    • Energy Price Outlook and Implied Heat Rates
      • Eastern Interconnect and ERCOT
      • Western Interconnect
      • Scarcity "Risk"
      • Capacity Markets
        • New England Forward Capacity Market (FCM)
        • MISO Resource Adequacy Requirement (RAR)
        • PJM Reliability Pricing Model (RPM)
        • NYISO Installed Capacity Requirement (ICR)
    • The Economics of Gas
  • Conclusions
    • Overall pricing levels expected to vary significantly across markets
    • Power price drivers continue to vary across markets
    • Continued evolution of power markets complicates price forecasting

In this report there are 7 tables or charts, including:

  • Summary
  • Three-Part Price Forecast
    • Figure 1 Three-Part Price Forecast by component
    • Figure 2: Power Prices and Heat Rates - East and ERCOT
    • Figure 3 Power Prices and Heat Rates - WECC
    • Demystifying Power Prices - A Three Part Outlook: Table 1
    • Figure 5 Capacity Price Forecast for Select Zones
    • Figure 6: Overall pricing levels as a percentage of cost of building new gas plants
    • Figure 7: Three-Part Price Contribution to Average 2015 Spark Spread for Selected Markets
  • Conclusions
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