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Lower natural gas prices drove year-over-year declines in wholesale power prices in March.
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This is a course about the New England wholesale electricity markets.
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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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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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Prices in the Real-Time Energy Market were down 66% compared to January 2022.
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The total estimated wholesale market cost of electricity for the fall of 2022 was $2.39 billion.
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Elevated natural gas prices throughout the month drove increases in wholesale electricity prices.
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The changes will include front-of-meter solar resources under the existing “do not exceed” dispatch framework.
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Year-over-year demand for electricity fell 2.3% in November.
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