The huge winter storms in California and out West produced a significant snowpack across the region and increased lake levels, setting the stage for major hydropower generation this year. Yet analysts say the boom in hydroelectricity could further depress power prices, which might be good news for rate payers but bad news ultimately for independent power producers, or IPPs. “The more hydro generation you have the less [natural] gas generation you should have,” Citi analyst Anthony Yuen told CNBC in an interview.