Entries in wholesale prices (33)

Thursday
Dec082016

Summer 2016 markets report reviews wholesale market outcomes during June, July, and August 2016 

The Summer 2016 Quarterly Markets Report prepared by the Internal Market Monitor (IMM) of ISO New England reviews wholesale energy market outcomes for June, July, and August of 2016.The report notes that the total wholesale cost of electricity (including energy, capacity, and ancillary services) during the three-month period was $1.56 billion, up 13% compared to the market value of $1.38 billion during the summer of 2015. The average real-time wholesale energy price was $30.35 per megawatt-hour, a rise of 13% compared to the summer of 2015. The year-over-year increase was driven by 2% higher average demand due to hotter weather, particularly in August, and natural gas prices that averaged $2.68 per million British thermal units, 31% higher than the average price during the summer of 2015.

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Friday
Nov182016

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

October’s average price of electricity fell on continuing low natural gas prices and low demand

Lower demand, driven by milder weather, and lower natural gas prices pulled October’s average monthly power price down 30%, to $22.72 per megawatt-hour (MWh)*, compared to the October 2015 average price of $32.62/MWh. The wholesale power price during October was the sixth-lowest since the wholesale electricity markets in their current form were launched in 2003 in New England, and the natural gas price was the eighth-lowest during that time period. Total energy consumption in New England in October was the lowest of any October since 2000, and the fourth-lowest monthly consumption.

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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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Wednesday
Sep072016

Spring 2016 markets report reviews wholesale market outcomes during March, April, and May 2016 

The Spring 2016 Quarterly Markets Report prepared by the Internal Market Monitor (IMM) of ISO New England reviews wholesale energy market outcomes for March, April, and May of 2016. The report notes that the total wholesale cost of electricity (including energy, capacity, and ancillary services) during the three-month period was $1.02 billion, down 38% compared to the market value of $1.64 billion during the spring of 2015. The average real-time wholesale energy price was $22.10 per megawatt-hour, a decline of 40% compared to the spring of 2015. The year-over-year decline was driven by lower demand due to milder weather and lower natural gas prices that averaged $2.29 per million British thermal units, 45% lower than the average price during the spring of 2015. The report reviews the performance of Coordinated Transaction Scheduling (CTS), which was implemented December 15, 2015, to improve the efficiency of wholesale power trades between New England and New York. And the report examines the effects of revisions to the regulation market rules since July 2013.

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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