Entries in monthly prices (27)

Friday
Oct262018

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

Wholesale power and natural gas prices rose in September

Increased consumer demand for electricity, coupled with higher natural gas prices, pushed up average wholesale power prices for the month of September 2018 in both the Day-Ahead and Real-Time Energy Markets when compared to the previous year. The day-ahead energy price was up 43.8% to $33.89 per megawatt-hour (MWh)* and the real-time energy price rose 56.5% to $41.17/MWh.

Hotter-than-anticipated weather, and the corresponding rise in consumer demand, combined with unplanned generator outages to produce capacity scarcity conditions in the region on Sept. 3, 2018. Hourly average real-time energy prices rose over $2,400/MWh during these conditions at the New England Hub, a reference price for electric energy in the region.

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Wednesday
Sep262018

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

Wholesale power and natural gas prices rose in August

Warmer weather brought increased consumer demand for electricity, which, coupled with higher natural gas prices, pushed up average wholesale power prices for the month of August 2018 in both the Day-Ahead and Real-Time Energy Markets when compared to the previous year. The day-ahead energy price was up 57.2% to $39.16 per megawatt-hour (MWh)* and the real-time energy price rose 64.8% to $39.18/MWh.

High temperatures at the end of the month led to the region’s highest peak demand in more than five years on August 29, 2018, at 25,944 MW. The last peak to measure above this month’s peak occurred on July 19, 2013, at 27,379 MW.

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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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