Spring 2017 markets report reviews wholesale market outcomes during March, April, and May 2017 
Wednesday, August 30, 2017 at 3:00PM
ISO New England in Recent Publications & Events, quarterly prices, wholesale prices

The Spring 2017 Quarterly Markets Report prepared by the Internal Market Monitor (IMM) of ISO New England reviews wholesale energy market outcomes for the three-month period from March 1 through May 31, 2017.

The report notes that the total wholesale cost of electricity (including energy, capacity, and ancillary services) during the three-month period was $1.3 billion, up 26% compared to the market value of $1.0 billion during the spring of 2016. The average day-ahead wholesale energy price was $30.78 per megawatt-hour (MWh), up 32% over the average day-ahead price during spring 2016, while the real-time price was $31.92/MWh, 44% higher than the average real-time price during the previous spring. The year-over-year increase was driven by natural gas prices that were 54% higher, averaging $3.59 per million British thermal units (MMBtu) compared to the $2.33/MMBtu average price during the previous spring. Unseasonably cold temperatures during March 2017 compared with March 2016 drove most of the year-over-year increase in quarterly average prices. In March 2017, natural gas averaged $4.46/MMBtu, a 127% increase over the historically low natural gas prices seen during the previous March.

Article originally appeared on ISO Newswire (http://isonewswire.com/).
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