« New England’s wholesale electricity prices in 2017 second-lowest since 2003 | Main | Finalized capacity auction results confirm FCA #12 procured sufficient resources, at a lower price, for 2021–2022 »
Friday
Mar022018

Fall 2017 markets report reviews wholesale market outcomes during September, October, and November 2017 

The Fall 2017 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 2017.

The Fall 2017 Quarterly Markets Report notes that the total wholesale cost of electricity (including energy, capacity, and ancillary services) during the three-month period was $1.74 billion, up 49% compared to the market value of $1.17 billion during the fall of 2016. The average real-time wholesale energy price was $30.45 per megawatt-hour, 23% higher than the average real-time price in fall 2016. Higher Forward Capacity Market prices were the biggest contributor to the increase in wholesale market costs relative to Fall 2016. Capacity costs totaled $769 million in Fall 2017, up 170% compared to Fall 2016. Energy costs totaled $925 million, up 12% compared to the prior fall. The year-over-year increase was primarily driven by natural gas prices that averaged $2.71 per million British thermal units, 10% higher than the average price during the fall of 2016.