‘Perfect storm’ leads to record-high power prices

Wholesale power prices hit a new high over the weekend after low wind output, summer maintenance outages and high gas and carbon prices combined to create a “perfect storm.” In an occurrence that has become increasingly rare outside of the winter season, a number of coal units were switched on to help keep up with demand on Monday. EnAppSys director Phil Hewitt talked to Utility Week about the reasons behind the surging power prices and what to expect next.