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Elevated natural gas prices throughout the month drove increases in wholesale electricity prices.
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The ISO declared a capacity deficiency, meaning the region’s supply of electricity was insufficient to meet required operating reserves in addition to satisfying consumer demand.
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Year-over-year demand for electricity fell 2.3% in November.
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Wholesale power prices decreased year over year, due in part to lower consumer demand.
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Demand for electricity in summer 2022 was nearly 37,000 gigawatt-hours, up 2% from summer 2021.
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The total wholesale market cost of electricity increased 38% in 2021, following record-low energy prices in 2020.
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Demand for electricity in June, July, and August was up 3.4% from last year.
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The average price of natural gas more than doubled from August 2020 to August 2021.
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Energy usage for the month decreased 10.4% from July 2020.
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During the winter of 2020-2021, the power system of New England operated reliably, despite regional impacts of a continuing global …
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