Entries in wholesale prices (35)

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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Thursday
Apr212016

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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Tuesday
Mar292016

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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Wednesday
Mar232016

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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