Entries in monthly prices (25)

Friday
Aug242018

Monthly wholesale electricity prices and demand in New England, July 2018

Wholesale power and natural gas prices rose in July

Warmer weather brought increased consumer demand for electricity, pushing up the average wholesale power prices for the month of July 2018 in both the day-ahead and real-time energy markets when compared to the previous year. The day-ahead energy price was up 19.2% to $32.89 per megawatt-hour (MWh)* and the real-time energy price rose 26.5% to $33.67/MWh.

July started in the midst of a week-long heat wave, though New England’s power system operated realiably throughout the hot, humid weather.

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Friday
Jul272018

Monthly wholesale electricity prices and demand in New England, June 2018

Wholesale power and natural gas prices rose in June

Despite low power demand during June, higher natural gas prices pushed up the average wholesale power price for the month of June 2018 in both the day-ahead and real-time energy markets when compared to the previous year. The day-ahead energy price was up 5.2% to $26.82 per megawatt-hour (MWh)* and the real-time energy price rose 8.7% to $26.02/MWh.

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Friday
Jun152018

Monthly wholesale electricity prices and demand in New England, May 2018

Wholesale power prices fell in May to the 8th lowest monthly average

Mild weather and low demand for power combined with low natural gas prices to bring May’s wholesale electricity price to the eighth-lowest level in 15 years. New England’s wholesale electricity markets were launched in their current form in March 2003. Similarly, the price of natural gas was the 12th-lowest monthly average over the same period.
The average wholesale power price for the month of May 2018 dropped in both the day-ahead and real-time energy markets when compared to the previous year. The day-ahead energy price was down 12.0% to $24.04 per megawatt-hour (MWh)* and the real-time energy price fell 18.8% to $23.89/MWh.

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Wednesday
May232018

Monthly wholesale electricity prices and demand in New England, April 2018

Demand was low, particularly on April 21; natural gas and wholesale power prices rose in April

April 2018 stood out for near-record-low demand for power and a first-ever instance of lower daytime demand than nighttime demand in New England. Despite the low demand, higher prices for natural gas drove up the price of wholesale electricity for the month.

The average monthly price for natural gas rose nearly 60% during April compared to the prices recorded during April 2017. The average wholesale power price for the month of April 2018 also rose in both the day-ahead and real-time energy markets when compared to the previous year. The day-ahead energy price was up 53.9% to $45.00 per megawatt-hour (MWh)* and the real-time energy price rose 37.7% to $43.38/MWh.

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Thursday
Apr262018

Monthly wholesale electricity prices and demand in New England, March 2018

Natural gas and wholesale power prices fell in March

Milder weather during March tempered the demand for both natural gas and power and allowed the average monthly price for each to decline from the prices recorded during March 2017. The average monthly wholesale power price fell in both the day-ahead and real-time energy markets, down 1% to $35.38 per megawatt-hour (MWh)* in the day-ahead energy market and down nearly 6% to $32.87/MWh in the real-time market.

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Monday
Mar262018

Monthly wholesale electricity prices and demand in New England, February 2018

February natural gas and wholesale power prices subsided from January’s highs

Milder weather during February tempered the demand for both natural gas and power and allowed the average monthly price for each to shrink significantly from the highs recorded during January. The average monthly wholesale power price shrank more than 63% in both the day-ahead and real-time energy markets, to $39.58 per megawatt-hour (MWh)* and $36.91/MWh, respectively. While those prices marked significant declines from January’s prices, they were still up, by about 32%, from the average monthly prices recorded in February 2017.

February also marked a return to a more typical resource mix. During the extreme cold weather in early January, the spike in natural gas demand and resulting rise in prices caused coal- and oil-fired generators to be less costly to run than natural-gas-fired generators. As a result, coal- and oil-fired generators were dispatched more often in January, and generated about 15% of the energy produced by New England power plants. By contrast, in February, coal- and oil-fired power plants produced under 2% of the region’s generation. That’s closer to the usual fuel mix—in 2017, they generated just 2.3% of the energy produced in New England.

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