Entries in wholesale prices (36)

Tuesday
May232017

Wholesale electricity prices and demand in New England, April 2017

Rising natural gas prices caused wholesale electricity prices to increase during April

Natural gas prices in April were nearly 10% higher than during the previous April in New England, pushing up the average wholesale power price to $31.51 per megawatt-hour (MWh)*, a 12.6% increase compared to the April 2016 average price of $28.00/MWh. For a month-to-month comparison, the April power price was 9.5% lower than the March average price of $34.81.

Click to read more ...

Monday
May082017

Winter 2017 markets report reviews wholesale market outcomes during December 2016 and January and February 2017

The Winter 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 December 1, 2016, through February 28, 2017.

Click to read more ...

Wednesday
May032017

Winter 2016/2017 recap: Power system performs well during generally mild weather

New England’s power system performed well during winter 2016/2017, though colder temperatures in December led to higher natural gas and wholesale electric prices compared to the prices seen during the record-setting warm weather of winter 2015/2016.

While January and February were milder than normal, temperatures in December 2016 averaged 32.4°F, more than 10°F colder than the previous December. Over the course of the winter New Englanders used 30,933 gigawatt hours (GWh) of electricity, slightly less than the 31,328 GWh used during the previous winter (which, as a leap year, included one extra day in February), but significantly less than the 33,709 GWh used during the much colder 2014/2015 winter, according to ISO New England data.

Click to read more ...

Monday
Apr242017

Monthly wholesale electricity prices and demand in New England, March 2017

Cold weather drove up natural gas prices in March, resulting in electricity prices that were higher than March 2016’s record-low price

Unusually cold weather in March drove up natural gas prices in New England to more than twice the average price in March 2016, driving up the average wholesale power price. The March 2017 average price of natural gas rose nearly 140% year-over-year. The average wholesale power price in New England doubled to $34.81 per megawatt-hour (MWh)* compared to the March 2016 average price, which at $17.20/MWh stands as the lowest monthly average power price in New England since March 2003. The current wholesale electricity markets were launched in March 2003.

The March power price was 24.1% higher than the February average price of $28.05. The cold weather in March also drove up electricity usage in New England, by nearly 6% year-over-year and 10.5% over usage during February.

Click to read more ...

Thursday
Mar232017

Monthly wholesale electricity prices and demand in New England, February 2017

Higher natural gas prices caused the average electricity price to edge up in February

The February 2017 average price of natural gas rose 6.7% year-over-year, pushing up the wholesale power price in New England by 2.4% to $28.05 per megawatt-hour (MWh)* compared to the February 2016 price of $27.39/MWh.

The 2.4% increase in wholesale power prices was smaller than the 6.7% increase in natural gas prices, in part because demand was lower in February 2017. Total energy consumption in New England declined by 7.1% in February, compared to energy usage during the previous February—but leap year was also a factor in year-over-year comparisons. Because 2016 was a leap year, February 2016 had 29 days, accounting for a portion of the higher energy consumption compared to the 28 days of February 2017.

Click to read more ...

Monday
Feb272017

New England’s wholesale electricity prices in 2016 lowest since 2003  

Last year’s wholesale electricity prices were the lowest in 13 years due to low natural gas prices and mild weather that dampened demand. The total value of New England’s wholesale electricity market in 2016 was $4.1 billion, $1.1 billion less than the $5.2 billion value for wholesale electricity in 2012, the previous year with the lowest market value. The average annual wholesale power price in New England last year was $28.94 per megawatt-hour. For more information, read the press release.

Click to read more ...