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WASHINGTON (AP) -- U.S. wholesale prices fell in April, reflecting a big decline in gas and energy costs. But outside that drop, inflation was tame. The Labor Department says the producer price index, which measures price changes before they ...Wholesale Electricity Surges in New York - Businessweek
Wholesale electricity jumped in New York as hot, humid weather from Massachusetts to Maryland prompted households and businesses to crank up their air conditioners.
Spot power in New York City rose to an average of $706.33 a megawatt-hour for the hour ended at 12 p.m., after soaring as high as $1,647.56 at 10:55 a.m., according to the New York Independent System Operator Inc., which manages the state grid. Electricity traded yesterday for delivery in the 10 a.m.-to-noon period today was priced in the $50-range.
The high in New York today may be 88 degrees Fahrenheit (31 Celsius), 14 above normal, with humidity rising to as high as 87 percent, according to AccuWeather Inc. in State College, Pennsylvania. Baltimore’s high will be 12 above normal at 91 degrees.
“Today’s demand is expected to be up with the heat and humidity, but power supplies are more than adequate to meet that demand,” Michael Clendenin, a spokesman for Consolidated Edison Inc. in New York, said in an e-mail. A cold front expected to move in later today and tomorrow will “bring temperatures back to normal by the end of the week,” he said.
Most power for a given day is purchased the previous day in what is known as the day-ahead market. Spot prices can jump when demand exceeds the amount secured in trading a day earlier.
New York Grid
Hourly prices across the New York state grid have been above $100 a megawatt-hour since 7 a.m., when demand climbed with the start of the work day. Electricity use on the grid was 28,009 megawatts as of noon, 14 percent above yesterday’s forecast for that time.
Thunderstorms predicted for later today may result in transmission disruptions and surging prices at around 3 p.m. to 4 p.m., said Brendyn Brooks-Stocking, a Boston-based Northeast power analyst with Genscape Inc., which tracks real-time data at power plants.
Today’s spot-market price gains won’t affect bills for Con Ed customers, according to Clendenin. The utility has more than three million customers in New York City and Westchester County.
The high in Worcester, Massachusetts, may be 83 degrees, 13 above normal.
Spot power across New England was $205.81 a megawatt-hour as of 12:40 p.m., based on gains in Connecticut and Western Massachusetts, compared with the day-ahead price of $43.74 for the grid, according to the region’s grid operator. Electricity on the grid averaged $151.65 from 9 a.m. to 11 a.m., according to data from ISO New England Inc.
Mid-Atlantic
Demand on the mid-Atlantic grid operated by PJM Interconnection LLC, which spans 13 states from New Jersey to North Carolina and as far west as Illinois, was 120,911 megawatts as of 11:30 a.m., 4.8 percent more than the day-ahead forecast.
Prices have traded from lows that were mostly in the $20s and $30s per megawatt-hour to more than $400 in some of the more densely populated areas where transmission bottlenecks aren’t unusual, according to PJM data.
Public Service Enterprise Group (PEG) (PEG)’s territory in New Jersey averaged $278.58 a megawatt-hour for the hour ended at noon, after rising to a high today of $451.75. Spot power at Baltimore Gas & Electric Co.’s zone in Maryland averaged $314.68 for the same hour after rising as high as $431.58. Day-ahead prices were in the high $40s for both areas.
To contact the reporter on this story: Naureen S. Malik in New York at nmalik28@bloomberg.net
To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net
Shopping for land - Leicester Mercury
Fosse Park has expressed an interest in expanding onto the Everards Brewery site, situated next to the shopping centre.
The brewery plans to relocate from its Castle Acres site adjacent Fosse Park to nearby land it already owns, close to the Leicestershire Police HQ in Enderby.
Last year, bosses announced a proposal to create an 11-acre food and drink park at the new site and sell its existing 12-acre facility. They hope to receive tens of millions of pounds from the sale.
Stephen Gould, Everards' managing director, said: "The current owners of Fosse Park have approached us. We have kept them up to date. We have always had an open dialogue with them
"There's active interest in the site from a number of parties, mainly from retailers. However, at no stage have we put the site formally on the market.
"It's being handled very sensitively and we are consulting widely."
The 12-acre Castle Acre site is to the south of the shopping park, between Braunstone and junction 21 of the M1. Fosse Park, which opened in 1989, is the UK's leading out-of-town shopping centre. It contains 40 shops over 37 acres and attracts 12 million visitors a year. It is currently owned by a group of Irish investors.
The then owners of Fosse Park signed a special agreement with Everards Brewery more than 10 years ago giving the shopping centre first option to buy the Everards site.
This agreement was not renewed after a deadline was reached. However, the park's current owners are still thought to be interested.
Fosse Park manager Adrian Young declined to comment and its owners could not be contacted.
Everards plan to occupy five acres of the food and drink park and offer the remainder to other businesses. The site would also contain a visitor centre.
Mr Gould said if the development was approved by Blaby District Council, work could commence by the end of the year.
Mr Gould announced Everards made a pre-tax profit of £2.47 million in the year to September 24, 2011, down £1.44 million on last year. The fall reflected one-off profit gains of £1.6 million made last year from the sale of property and the closure of its final-salary scheme.
The company said a 6.1 per cent rise in operating profit to £3.93 million over the same period better reflected day-to-day trading. Turnover was down 2.5 per cent to £28.2 million. The company, founded in 1849, employs 106 people and runs 176 pubs.
Wholesale Power Tools Father’s Day Sale Targets What Dad Really Wants: Power Tools - YAHOO!
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With Big Savings on popular Makita power tools and a third Free lithium-ion battery on select kits, plus 10% off on select renowned Jet metalworking and woodworking shop tools, Dad will be a better craftsman and DIY-er for less. Ft. Myers, FLA (PRWEB) May ...
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