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Wholesale power prices fell year over year in April as natural gas prices continued to drop.
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The study’s first set of results examine winter 2027.
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The results showed limited reliability risks in the short-term, provided other generating resources are available to respond.
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Lower natural gas prices drove year-over-year declines in wholesale power prices in March.
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Grid demand on April 9, 2023 was 750 MW lower than the previous record, set last May.
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As the region’s resource mix evolves, so too must the methods by which ISO New England measures capacity contributions.
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The period from December through February averaged 5°F warmer than normal. Meanwhile, electricity demand dropped by 4% compared to last winter.
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The reduction was equal to the amount of energy consumed by about 430,000 homes in one year.
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Lower natural gas prices and lower demand led to year-over-year declines in wholesale power prices.
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More than 1,200 resources secured capacity supply obligations, ranging from 1 kW to 1.2 GW and encompassing a variety of fuels and technologies for the 2026-2027 period.
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