Kirk Andrews, EVP and CFO of NRG Energy (NRG), discusses the history of NRG and describes some of the big factors that have affected the merchant power generation industry since the turn of the century. Part 1 of the Kirk Andrews interview provides some really interesting background on the power business in general, and fascinating insights into possibly the most underappreciated subsectors in the market today.

Here are some links that I used to obsess over when I used to cover NRG on the buyside. The links should take you to the real-time power price maps and charts for the various independent system operators (also known as ISOs) across the US. Note that even if you live in a fully regulated electric service area, you can still see the price for wholesale electricity. Power prices are quoted in dollars per megawatt hour ($/MWh), so if you wanted to compare the total cost of electricity on your utility bill (which is usually dollars per kilowatt-hour or $/kWh) to the power prices below, just move the decimal three numerals to the right.

Real-Time Power Price Maps:

• PJM – The largest power market in the US, and includes all or parts of DE, IL, IN, KY, MD, MI, NJ, NC OH, PA, TN, VA, WV, DC
• ERCOT – Most of Texas (check this one out on a hot summer day)
• NYISO – New York
• ISO-New England – Includes CT, RI, MA, VT, NH, ME. ISO-NE has the best map out of the bunch, in my opinion. You can see the current fuel mix, system load (demand), and available supply.
• California ISO – Includes CA and NV, but the map shows power prices for almost everything west of the Rockies
• MISO – The Midwest ISO includes all or parts of just about every state that touches the Mississippi River
• SPP – The Southwest Power Pool includes all or parts of AR, KS, IA, MO, MT, ND, NE, NM, OK, SD, TX, WY