Wednesday
Aug302017

Spring 2017 markets report reviews wholesale market outcomes during March, April, and May 2017 

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.

Wednesday
Aug302017

Wholesale electricity prices and demand in New England, July 2017

July’s average wholesale electricity price dropped year-over-year, tracking a decline in natural gas prices

Natural gas and wholesale electricity prices both dropped almost 10% in July compared to the prices seen during July 2016. The average wholesale power price during July was $26.62 per megawatt-hour (MWh)*, down 9.3% from the July 2016 average of $29.33/MWh, while the average monthly price of natural gas was down 9.4% during July.

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Tuesday
Aug292017

United States Department of Energy releases report on electric grid reliability and resilience

On August 23, the US Department of Energy released a report focused on a variety of challenges affecting the reliability and resiliency of the electric grid. The report was initiated by the Secretary of Energy in April, with a focus on the effects of various economic and political factors on electric grid operations, including baseload generation powered by nuclear and coal.

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Thursday
Aug242017

Massachusetts DEP issues final regulations to satisfy Global Warming Solutions Act Obligations

On August 11, 2017, the Massachusetts Department of Environmental Protection (DEP) issued final regulations to ensure that the Commonwealth will meet its statewide greenhouse gas (GHG) emissions limits mandated by the 2008 Global Warming Solutions Act (GWSA). The new regulations reflect a ruling by the Massachusetts Supreme Judicial Court and an executive order by Governor Charlie Baker directing Massachusetts to promulgate enforceable regulations that will facilitate the state’s achievement of its GWSA obligations.

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Thursday
Aug242017

US Senate approves FERC nominees

The US Senate confirmed the nominations of Neil Chatterjee and Robert Powelson on August 3, 2017, restoring a quorum to FERC for the first time since early February. Both were sworn in the following week, and President Trump named Commissioner Chatterjee as temporary Chairman on August 10.

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Tuesday
Aug222017

Vermont Governor Phil Scott will be special guest speaker at Consumer Liaison Group meeting on September 7

The next meeting of the Consumer Liaison Group (CLG) will be held on September 7 at the Woodstock Inn & Resort in Woodstock, VT. The topic will be, “New England Transmission in a FERC Order 1000 World: Where are We?” Panelists include: Jason Marshall, General Counsel, New England States Committee on Electricity; Mary Ellen Paravalos, Vice President, ISO, Siting & Compliance, Eversource Energy; Colin Owyang, General Counsel & Corporate Secretary, Vermont Electric Power Company; and Donald Jessome, Chief Executive Officer, Transmission Developers Inc. Register today!

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