West–Houston’s $83 premium ends two evenings of shortfalls

West supplied most of the spread surprise. In the Nov. 8 late window, West averaged $119.37/MWh against $64.91 day-ahead; Houston averaged $36.56 against $39.49. North also ran $47.86/MWh above day-ahead, while South ran $9.31 below. The separation extended beyond the hour beginning 8 PM: over the following two hours, West and North still beat clearance on average, while Houston and South missed.

The broader rebound continues, but remains uneven. Rolling 24-hour Hub Average reached $55.89/MWh, its fourth consecutive increase, versus $34.92 across the preceding seven issues and $32.39 across 30. Demand averaged 258 MW below forecast during the late surge. By the hour beginning 7 AM Nov. 9, West and North were already $18.60 and $11.91/MWh below day-ahead, respectively—an important counterweight to extrapolating the evening upside.

Tonight’s late clearances put West at $52.62/MWh and Houston at $37.21, leaving a matched-hour premium of $15.41. Metis 1 Preview, issued Nov. 9 at 6:55 AM CST, averages $40.74/MWh for Hub Average against $44.50 cleared. The desk’s next comparison is delivery against this lower curve, not a repeat of last night’s price spike.