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Low natural gas prices and mild temperatures during the winter of 2023/2024 resulted in the lowest seasonal energy prices since 2020.
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The total wholesale cost of electricity dropped 43% as natural gas prices declined and average hourly demand hit a record low.
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Prices were down in both the day-ahead and real-time markets in April.
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Energy market prices fell year over year.
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The region saw its lowest winter peak demand since 1986/1987.
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Prices were down in both the Day-Ahead and Real-Time energy markets in February.
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Higher demand and rising natural gas prices drove an increase in wholesale electricity prices in January.
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The cost per megawatt-hour of load served was $49 in fall 2023, compared to $89 for the previous year.
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December 2023 saw New England's demand for grid electricity fall by about 4% year over year, due in part to warmer temperatures.
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Wholesale electricity prices remained lower in November 2023 compared to the previous year.
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