Monthly wholesale electricity prices and demand in New England, January 2017

January’s average price of electricity rose on higher natural gas prices

The average price of natural gas rose 14% during January 2017, pushing up the wholesale power price in New England by 8%, to $36.66 per megawatt-hour (MWh)*, from the January 2016 price of $33.99/MWh.

The smaller percentage increase in wholesale power prices compared to the natural gas increase was due to lower demand, as well as changes in the fuel mix in January. Total energy consumption in New England declined by 3% in January, compared to the previous January. Nuclear output was lower in January 2016, by about 200 gigawatt-hours (GWh) or 7.6% to 2,988 GWh, likely requiring the use of higher-priced resources. And output from low-priced wind resources was higher in January 2017, up by 48 GWh or 20% to 298 GWh, likely displacing some higher-priced resources.

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ISO-NE launches 2017 Regional Electricity Outlook 

Annual report describes transformation of New England’s power system

ISO New England has published its 2017 Regional Electricity Outlook, an annual report looking at the challenges and trends impacting New England’s power system, as well as the innovative solutions the ISO and regional stakeholders are pursuing to ensure reliable electricity for the region’s homes and businesses—today and into the future. The report and companion webpages look back on the changes in New England’s electricity industry over the past two decades, while exploring the changes currently underway in the region.

A full version of the 2017 Regional Electricity Outlook is available for download.


Want improvements to our mobile app? Take the ISO to Go survey today

ISO New England’s mobile app ISO to Go has been downloaded thousands of times and is used every day by market participants, government officials, and citizens throughout New England and beyond. The mobile app has been a valuable tool for checking in on wholesale prices, regional electricity demand, and generation fuel mix while on the go. It’s been nearly five years since we launched ISO to Go, and it’s time to make it even more handy and functional for users.

As we create our next-generation ISO to Go 2.0 mobile app, we’d like your input on which features you use most today and what features you would like to see added. Please fill out our survey and let us know what would make the app more even more useful to you.

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ISO-NE files comments as part of proposed FERC rules on energy storage

Comments highlight grid operator’s support of proposal goals

ISO New England filed comments with the Federal Energy Regulatory Commission (FERC) on February 13, 2017, in response to the commission’s Notice of Proposed Rulemaking (NOPR), which is aimed at better integrating emerging energy storage technologies and distributed energy resources into organized wholesale electric markets.

FERC launched the NOPR process on November 17, 2016, out of concern that new storage technologies and distributed energy resources face barriers to participating in wholesale markets across the country. The proposal looks to establish market rules that better accommodate the physical and operational characteristics of battery storage technologies and to enable participation of aggregations of distributed energy resources.

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Fall 2016 markets report reviews wholesale market outcomes during September, October, and November 2016 

The Fall 2016 Quarterly Markets Report prepared by the Internal Market Monitor (IMM) of ISO New England reviews wholesale energy market outcomes for September, October, and November of 2016.

The Fall 2016 Quarterly Markets Report notes that the total wholesale cost of electricity (including energy, capacity, and ancillary services) during the three-month period was $1.17 billion, down 17% compared to the market value of $1.40 billion during the fall of 2015. The average real-time wholesale energy price was $24.72 per megawatt-hour, 22% lower than the average real-time price in fall 2015. The year-over-year decline was driven by natural gas prices that averaged $2.45 per million British thermal units, 21% lower than the average price during the fall of 2015. Lower demand was also a factor; energy usage declined 3%, to 28,812 gigawatt-hours, in fall 2016 from the fall 2015 level.

For more, read Winter 2015/2016 recap: New England power system performed well and prices remained low.


Daylight Saving Time springs ahead soon

Market participants: note changes to accommodate subhourly settlements, which launches early March

Daylight Saving Time takes effect on March 12, 2017. Market participants will need to make adjustments in working with market applications for that day.

To accommodate the forward time change, the eMarket application, where bids and offers are submitted, will have no Hour 02 (HOUR ENDING 03) on Sunday, March 12. The Settlement Management System (SMS), used for internal transactions and meter readings will have no Hour Ending 02. The Enhanced Energy Scheduler (EES), used for external transactions does not recognize a stop date for hour 02, thus energy intervals for the second hour of the short day should have a start date of 01:00 and a stop date of 03:00.

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