U.S. power and natgas prices soar as spring heatwave blankets country

　　div classBodysc17zpet90 cdBBJodivpReuters – U.S. spot power and natural gas prices soared on Thursday to their highest in over a year in several parts of the country as consumers cranked up air conditioners to escape an early spring heatwave.p

　　pEven before the latest heat, gas futures were already trading near a 13year high as much higher prices in Europe and Asia kept demand for U.S. liquefied natural gas exports strong, especially since Russias Feb. 24 invasion of Ukraine. [NGA]pdivdivdiv classBodysc17zpet90 cdBBJodiv

　　pIn Pennsylvania, nextday power at the PJM West hub and gas at the Dominion South hub rose to their highest since the February freeze in 2021.p

　　pAccuWeather forecast high temperatures in Philadelphia would jump from 79 Fahrenheit 26.1 Celsius on Thursday to 87 on Friday and 95 on Saturday. The citys normal high is 75.p

　　pIn Texas, the Electric Reliability Council of Texas ERCOT, which operates the grid for most of the state, forecast demand would peak at a monthly record on Thursday.p

　　pERCOT said the grid had enough resources to meet demand early on Thursday.p

　　pBut at the start of the current heat, ERCOT was forced to urge conservation on May 13 after several power plants shut unexpectedly, causing realtime prices to soar to over 4,000 per megawatt hour MWh. p

　　pAccuWeather said high temperatures in Houston hit the 90s F every day since May 14 and will remain at those levels through Saturday. The citys normal high is 87.p

　　pERCOT forecast demand would peak at 72,424 megawatts MW on Thursday, topping the current May record of 70,804 MW on Tuesday.p

　　pIn Louisiana, nextday gas at the Henry Hub benchmark jumped to its highest since hitting a record during the 2021 February freeze.p

　　pIn Northern California, nextday gas at the PG&E Citygate rose to its highest since February 2019 for a second day in a row.p

　　p

　　pp Reporting by Scott DiSavino Editing by Emelia SitholeMatarisep

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