High US Power Prices Risk Squeezing Coal in Grid Auction – Bloomberg
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Coal is loaded into pilesat a coal plant in Letart, West Virginia.
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Will Wade
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Turbulent global energy markets are threatening to depress bids in a key auction on the largest US grid, potentially squeezing aging coal plants.
Shortages of natural gas and coal have pushed up wholesale power prices on the grid stretching from New Jersey to Illinois to their highest in more than five years. That’s created a windfall for many power plants, giving them breathing room to offer low bids in the auction for contracts to be on standby to provide backup capacity, according to analysts.
