Monday
Oct022017

Consumer Liaison Group discusses FERC Order 1000 and hosted VT governor at September 2017 meeting

The Consumer Liaison Group held its most recent quarterly meeting on September 7, in Woodstock, VT. The meeting featured special guest speaker Phil Scott, Governor of Vermont (pictured left); an update from ISO New England; and a panel discussion, New England Transmission in a FERC Order 1000 World: Where Are We?

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Monday
Sep252017

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

August’s average wholesale electricity price plunged 40% year-over-year on very low consumer demand

The average price of natural gas dropped by nearly 25% in August, but  the biggest factor in the 40% drop in wholesale electricity prices was demand for power, which was the lowest seen in any August since 2000. The average wholesale power price, at $23.77 per megawatt-hour (MWh)*, was the seventh-lowest monthly price since March 2003, when markets in their current form were launched. The August price was down 40.9% from the August 2016 average price of $40.19/MWh.

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Thursday
Sep142017

ISO-NE elects slate of board members

Brook Colangelo Joins; Christopher Wilson and Roberto Denis Re-elected

ISO New England’s board of directors has elected Brook Colangelo and re-elected Roberto Denis and Christopher Wilson to new three-year terms, effective October 1, 2017. Colangelo will replace Paul Levy, who is retiring from the board. ISO board members are elected through a joint nominating process involving the board, market participants, and state regulators. View the press release.

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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