Entries in electricity price (1)

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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