Highlights

AC intertie remains at 3 GW reduced capacity

Bootleg Fire in Oregon at 25% containment July 19

Cash prices for US Southwest delivery locations surged in July 19 trading, driven higher by ongoing uncertainty over wildfire impacts on power imports.

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Spot Kern River delivered, El Paso South Mainline and SoCal Gas – all pricing locations for gas flowing into the Southwest demand market – each soared over $2 higher than their prior-day settlement prices to reach the $6.40-$6.55/MMBtu range. The sharp price movement follows an ongoing pattern of heightened volatility for regional spot prices this season.

Unlike earlier regional spot gas price spikes this summer, which were driven largely by heat wave conditions boosting gas-fired power…

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