High natural gas prices drove an 85% year-over-year increase in the region’s wholesale market cost of electricity for the winter of 2022.
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The study, prepared by Analysis Group, looks at the ability of different market design frameworks to meet regional decarbonization goals.
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The winter was about 1°F warmer than average, and the region did not see any arctic outbreaks or extended, bitter cold.
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Natural gas prices nearly doubled year over year, contributing to an increase in wholesale power prices.
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Prepared by Analysis Group, the study looks at the ability of different market design frameworks to meet regional decarbonization goals.
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The plan outlines major ISO initiatives for the year.
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On the Codcast, Gordon van Welie and host Bruce Mohl discussed the four pillars needed for a reliable clean energy transition and other energy topics.
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High natural gas prices continued to drive year-over-year increases in wholesale power prices.
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Colder weather, higher demand, and high natural gas prices pushed wholesale electricity prices to their highest levels since February 2014.
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The total estimated wholesale market cost of electricity in Fall 2021 was $2.2 billion, up 67% from $1.32 billion in Fall 2020.
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