Internal Market Monitor releases Fall 2019 Quarterly Markets Report
The ISO’s Internal Market Monitor (IMM) released its Fall 2019 Quarterly Markets Report on February 12, 2020, covering the period from September 1, 2019 to November 30, 2019. Each quarterly IMM report assesses the state of competition in the wholesale electricity markets operated by the ISO. The report addresses the development, operation, and performance of the wholesale electricity markets and presents an assessment of each market based on market data, performance criteria, and independent studies.
Report highlights include:
- The total estimated wholesale market cost of electricity was $1.52 billion, a decrease of 38% from the previous Fall’s $2.43 billion.
- Energy costs totaled $746 million, a 47% ($655 million) decrease from Fall 2018 costs. Lower energy costs were a result of lower natural gas prices (down 42% at $1.77/MMBtu) and lower loads (down 6% or about 800 MW on average). The decrease in load was a result of milder weather compared to Fall 2018.
- Capacity costs totaled $749 million, down 24% ($239 million) from last fall.