Entries in market monitoring (9)

Tuesday
Jul172018

Spring 2018 markets report reviews wholesale market outcomes during March, April, and May 2018 

The Spring 2018 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, 2018.

The Spring 2018 Quarterly Markets Report notes that the total wholesale cost of electricity (including energy, capacity, and ancillary services) during the three-month period was $1.87 billion, up 45% over the market value of $1.29 billion during the spring of 2017. The value of the energy market was $1.06 billion, a 10% increase over spring 2017 costs. The increase was driven by higher natural gas prices, which increased 8% year-over-year. The higher total cost of the wholesale markets was also affected by higher Forward Capacity Market prices, up $479 million to total $767 million for the period.

The average day-ahead and real-time wholesale energy prices were $34.69 per megawatt-hour (MWh) and $33.27/MWh, respectively. The day-ahead average was 13% higher than the previous spring’s $30.78/MWh, while the real-time average price was 4% higher than the spring 2017 real-time average of $31.92. The year-over-year increase was driven by natural gas prices that were 8% higher, averaging $3.84 per million British thermal units (MMBtu) compared to the $3.55/MMBtu average price during the previous spring. The capacity price for the period from June 1, 2017, through the spring quarter ending on May 31, 2018, rose due to a system-wide capacity deficiency after a wave of retirements.

Thursday
May172018

ISO-NE’s wholesale electricity and capacity markets were competitive in 2017

The 2017 Annual Markets Report, issued by the Internal Market Monitor at ISO New England, concluded that the region’s wholesale power markets were competitive in 2017. The report notes that the total cost of wholesale electricity markets was $9.1 billion in 2017, which represents an increase of about 20% over 2016’s record-low costs. Energy costs made up $4.5 billion of the total, with both capacity costs and regional network load costs at $2.2 billion in 2017. The costs for reliability services such as operating reserve, regulation, and net commitment period compensation, totaled about $200 million.

Thursday
May032018

Winter 2018 markets report reviews wholesale market outcomes during December 2017 and January and February 2018

The Winter 2018 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 December 1, 2017, through February 28, 2018.

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Friday
Mar092018

New! Market Monitoring: Energy Market Mitigation Overview web-based training curriculum

The Market Monitoring: Energy Market Mitigation Overview training curriculum will provide an overview of energy market mitigation, including developing reference levels, mitigation tests, and the consultation process that includes details regarding fuel-price adjustments. Approximate viewing time is 1 hour and 24 minutes. The preferred web browsers for viewing this training are Internet Explorer or Firefox. Email the training team with questions at MkTraining@iso-ne.com.

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. 

Wednesday
Dec272017

Summer 2017 markets report reviews wholesale market outcomes during June, July, and August 2017

The Summer 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 June 1 through August 31, 2017.

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