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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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The auction will begin on March 6, 2023.
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The auction secured capacity commitments of 32,810 megawatts to meet the region’s projected demand for electricity in 2025-2026.
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Preliminary clearing prices ranged from $2.639 per kilowatt-month to $2.531 kW-month across different pricing zones.
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The ISO plans to release the auction results during the week of March 7.
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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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