Entries in monthly prices (14)

Thursday
Oct272016

Wholesale electricity prices and demand in New England, September 2016

September’s average price of electricity fell on lower natural gas prices and lower demand

Lower demand, driven by milder weather, and lower natural gas prices pulled September’s average monthly power price down 24%, to $27.21 per megawatt-hour (MWh)*, compared to the September 2015 average price of $35.83/MWh. September’s natural gas price was the 10th lowest since the wholesale electricity markets in their current form were launched in 2003 in New England, and the wholesale power price during September was the 12th lowest during that time period.

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Thursday
Sep222016

Monthly wholesale electricity prices and demand in New England, August 2016

August’s average price of electricity rose on higher natural gas prices and higher demand

August’s average monthly power price of $40.19 per megawatt-hour (MWh)* was up 13.7% from the August 2015 average price of $35.35/MWh and 37% higher than the July 2016 average price of $29.33/MWh. The month included some very hot and humid weather that drove up air conditioning use, which drove up demand for power by 3% over the month as a whole. The highest level for demand so far this year occurred on August 12, during a heat wave, when demand peaked at 25,521 MW. The day before, on August 11, shortage conditions developed – meaning the region was short of the required level of reserves – on the regional power system when several generators tripped offline, causing real-time prices to spike and requiring implementation of special operating procedures, including dispatch of demand-response resources in all of New England except Maine. The ISO New England control room maintained reliable power system operations throughout the day.

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Friday
Aug192016

Wholesale electricity prices and demand in New England, July 2016

July’s average price of electricity rose on higher natural gas prices and higher demand

July’s average monthly power price of $29.33 per megawatt-hour (MWh)* was up 15.5% from the July 2015 average price of $25.40/MWh and 38.1% higher than the June 2016 average price of $21.24/MWh.

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Monday
Jul182016

Wholesale electricity prices and demand in New England, June 2016

June’s average price of electricity was the third-lowest since 2003

June’s low average monthly power price of $21.24 per megawatt-hour (MWh)* was the third-lowest price since 2003, edging out May, which held the third-lowest spot for only a month. The average monthly price of natural gas in New England was the sixth-lowest of any month since 2003, when New England’s current wholesale electricity markets were launched. Total energy consumption during June was at the second-lowest level of any June since 2000, likely due to continued mild weather.

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Wednesday
Jun222016

Wholesale electricity prices and demand in New England, May 2016

May’s electricity usage and average prices for natural gas and wholesale power were among the lowest since 2003 

New England’s total demand for electricity during May added up to the sixth-lowest energy consumption for any month in the last 16 years, and the price of natural gas was the fifth-lowest of any month since 2003. As a result, the average wholesale power price in May was the third-lowest since March 2003, when New England’s current wholesale electricity markets were launched. Continued mild weather, as well as the region’s growing use of energy-efficiency measures and behind-the-meter solar, are the likely reasons for low energy consumption during the month.

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Tuesday
May312016

Wholesale electricity prices and demand in New England, April 2016

April 2016 scored the lowest monthly power demand in 16 years

April’s demand for electricity in New England was the lowest of any month since 2000, but the price of natural gas ticked up during the month, pulling the price of wholesale power up with it. The month of April typically scores the lowest monthly consumer demand for power each year. Energy usage in April 2016 was 2.4% lower than the previous record for lowest monthly demand, set the year before, during April 2015. Mild weather combined with the region’s growing use of energy-efficiency measures and behind-the-meter solar are the likely reasons for low energy consumption during the month.

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