Entries in wholesale prices (38)

Tuesday
Jun172014

ISO-NE CEO visits NECN to discuss natural gas dependency, other challenges affecting the regional grid

The New England Cable News (NECN) station welcomed Gordon van Welie, president and CEO of ISO New England, on June 10, to be a guest on their show “CEO Corner,” hosted by business editor Peter Howe.

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Friday
Apr042014

Oil inventory was key in maintaining power system reliability through colder-than-normal weather during winter 2013/2014

The frigid temperatures that gripped much of the nation this winter posed operational challenges to the New England power grid, led to spikes in natural gas and wholesale electricity prices, and further highlighted issues related to resource performance and the importance of a secure fuel supply. In light of these challenges, here and across the country, the Federal Energy Regulatory Commission (FERC) hosted a Technical Conference on April 1, to hear from ISO New England, New York ISO, PJM Interconnection, Southwest Power Pool, Midcontinent ISO, California ISO, and other industry representatives about the impact of the cold weather on power system operations in different parts of the country.

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Tuesday
Mar182014

Higher natural gas prices pushed up prices for wholesale electric energy in 2013

Pipeline constraints and higher demand pushed up prices for both natural gas and power

Natural gas pipeline constraints and higher demand in New England caused the average price of natural gas to rise 76% in 2013, which in turn pushed the wholesale electric energy price up by 55% over 2012’s record low price. Natural gas is the predominant fuel used to generate the region’s electricity, at about 46% of total generation in 2013, so wholesale power prices tend to track the price of natural gas. Preliminary data show that the wholesale energy price averaged $56.06 per megawatt-hour (MWh) in 2013, while natural gas averaged $6.97 per million British thermal units (MMBtu). The wholesale energy price was 30% lower than the all-time high of $80.56/MWh during 2008.

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Thursday
Feb272014

New England Governors continue their heavy focus on energy issues in 2014

ISO-NE summarizes major themes from the State of the
State Addresses

During January and February 2014, each of the six New England governors gave a State of the State Address highlighting the many energy challenges facing the region.

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Wednesday
May222013

SPI News: Day-Ahead Energy Market timeline changes go into effect May 23 for May 24 operating day

A major goal of the Strategic Planning Initiative, the market change is an important step for region

On April 25, the Federal Energy Regulatory Commission (FERC) issued an order approving acceleration of the daily schedule for bidding in and clearing New England’s Day-Ahead Energy Market. The market changes go into effect May 23 for operating day May 24, 2013.

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Wednesday
Jan232013

2012 wholesale electric energy prices dropped to lowest level since 2003

Lower natural gas prices and lower demand combine to push electricity prices down to a 10-year low

Preliminary figures from ISO New England show that wholesale electric energy prices dropped almost 23% in 2012, driven down by lower natural gas prices and lower demand. Additionally, the 2012 price was nearly 26% lower than the average price set in 2003, the year that ISO New England introduced wholesale competitive markets in their current form.

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