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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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ISO New England submitted two filings to FERC Tuesday regarding the Forward Capacity Market.
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ISO New England conducted the 16th Forward Capacity Auction as scheduled Monday.
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The annual capacity auction began as scheduled following a D.C. Circuit Court of Appeals order.
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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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Held each February, the auction procures resources to meet the region’s capacity needs in three years.
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Prices were up in both the day-ahead and real-time markets.
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The December release of the 2021 Wholesale Markets Project Plan (WMPP) is now available on the ISO’s website.
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