Entries in wholesale prices (34)


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

March wholesale power prices were lowest since 2003

March’s mild weather—with the low demand for power that comes with it—and low natural gas prices proved a potent combination, resulting in the lowest average wholesale electricity price for any month in 13 years in New England.

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Winter 2015/2016 recap: New England power system performed well and prices remained low

Compared to winters past, the winter of 2015-2016 featured above-average temperatures and a brief cold snap in February. Many in the region have called it the “the winter that wasn’t.”

According to the National Oceanic and Atmospheric Administration (NOAA), this winter was the warmest on record in the US. The average temperature in the lower 48 states was 36.8°F, which is 4.6°F above the 20th-century average. That beats the previous record of 36.5 degrees set in the winter of 1999-2000.

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New England’s 2015 average wholesale power price fell to second-lowest level since 2003

Preliminary figures from ISO New England show that 2015 included six of the 10 lowest average monthly wholesale electricity prices since 2003, when the wholesale markets in the current form were launched. The preliminary annual average price, at $41 per megawatt-hour, was the second-lowest annual price since 2003, tracking the price of natural gas, which was also at its second-lowest point in the same period. Read the press release.

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Wholesale electricity prices and demand in New England, February 2016

Mild weather contributed to low prices in February

Apart from a brief cold spell over the Presidents’ Day weekend, temperatures during February were mild, lowering demand for both natural gas and electricity. As a result, the average prices of both natural gas and wholesale power were nearly 80% lower than the average prices of February 2015, the coldest month in New England since at least 1960.

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ISO-NE report on market price formation highlights complexity of issue, regional improvements

Uplift costs are just 1–2% of the total energy market value in New England

On March 4, ISO New England filed its responses to Federal Energy Regulatory Commission (FERC) questions on price formation in wholesale electricity markets. The ISO report includes detailed answers to the technical, complex issues raised by FERC and highlights the significant strides made regionally to achieve pricing that accurately and transparently signals the costs of operating New England’s power system.

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Summer 2015: The lowest natural gas and power prices since 2003

The summer of 2015 in New England stands out, but not because of the weather. Overall, the summer was relatively mild and consumer demand for electricity was about average. The reason this summer was remarkable: Wholesale power prices were the lowest they’ve been since the competitive wholesale electricity markets were launched in 2003. The average real-time wholesale electricity price for June, July, and August was $26.86 per megawatt-hour (MWh). The second-lowest summer average price occurred the previous summer, during June, July, and August of 2014, at $34.31.

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