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With natural gas prices remaining lower than 2022, wholesale electricity prices posted another year-over-year decrease.
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Average wholesale prices remained lower than last year due to a 76% year-over-year drop in the price of natural gas.
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Total electricity use was down 14% compared to August 2022.
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Energy usage during July decreased slightly year over year.
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The average natural gas price, a key driver of wholesale electricity prices, was down 64% compared to June 2022.
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Wholesale power prices fell for the third straight month in May.
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Wholesale power prices fell year over year in April as natural gas prices continued to drop.
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Lower natural gas prices drove year-over-year declines in wholesale power prices in March.
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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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Prices in the Real-Time Energy Market were down 66% compared to January 2022.
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