Biggest U.S. Gas Rally in 16 Years Leaves Electricity Behind
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Wholesale electricity prices in the U.S., which used to take their cue from natural gas, are in the doldrums.
While gas has just capped its best second-quarter performance since 2000, power has failed to keep up. Spot prices for the benchmark Western hub at PJM Interconnection LLC, the nation’s biggest grid, averaged $27.15 a megawatt hour in the first six months of the year, 34 percent below the year-earlier level.