Electricity Markets The electric markets reacted to the shift up in weather pattern. Forward prices rebounded from last week driven by near term increases for February and March.Continue Reading
New charges coming to the NE electric market Clean Peak Program (CPP) – (MA only) As mentioned over the summer, the Massachusetts Legislature passed bill H.4857 aimed to promote a clean energy future. The new law changes concern renewable requirements and all MA customers and suppliers will be affected by these increases. Each supplier may treat these requirements differently. Executed agreements currently in effect or those which have not started yet may see these increases as pass-throughs effective starting in 2019 and 2020. ISO-NE Fuel Security Costs Another change coming...Continue Reading
Electricity Markets Pricing continued to decline for the second week running in response to warmer-than-normal weather for this time of year. New York, New England, and PJM are now in line with late-October to early-November pricing making this an opportune time to review fixed rate options for the upcoming year.Continue Reading
Electricity Markets All electric markets saw mid-week drops in forward pricing over the last seven days due to higher-than-normal temperatures and corresponding dips in the NYMEX. Temperatures trended closer to the historic average at the end of the week and placed upward pressure on the electric market. NYISO, PJM, and ERCOT pricing is below the previous week.Continue Reading
Electricity Markets Electric prices fell off a bit toward the end of the report week, following suit to the natural gas markets. Prices in all ISO’s still remain elevated in comparison to the sudden shift up in November.Continue Reading
Electricity Markets ISO-NE moved in the opposite direction this week, back up. While there was a retreat in the NYMEX, the Algonquin basis bounced up again impacting the New England electric prices. PJM & NYISO both rebounded up a bit as well. In ERCOT there is still no stability as they try to find their price comfort level.Continue Reading
Electricity Markets The 12-month forward strip for NYISO continues to remain elevated by the 3 months (Jan, Feb., Mar.) of high winter prices, while the rest of the 12-month strip is reasonable value. Over the past few weeks ERCOT has bounced all over. Texas is not impacted by the winter but with retirement of old units, and the load increasing due to economy growth, unease remains regarding capacity for next summer.Continue Reading
Electricity Markets Wholesale energy average for the 12-forward months has been volatile across the board, following the trends of natural gas. Over the report week, NYISO spiked and then dropped and ERCOT has been all over the place. ISO-NE rose above $0.05 cents, and then retreated back where prices were trading about 2 weeks ago. In PJM, the tightness in supply has historically greatly affected price, and that trend continues. All volatility appears in the near-term months. The upcoming spring/early summer months are trading close to or below last year.Continue Reading
Electricity Markets The electric markets continue to show volatility as it follows the uncertainty surrounding the upcoming winter and natural gas prices.Continue Reading
Electricity Markets This graph depicts the average of the forward 12 months of electric pricing in each region. Over the report week there was another large increase in each ISO as a result of panic in the natural gas markets.Continue Reading
Electricity Markets The natural gas markets experienced a gap up in prices over the report week, in turn impacting the price of electric in all markets. ISO- NE had been on somewhat of a downward slope prior to this run up. It is important to keep in mind how the generation mix will continue to change in the coming years. In NY, Indian Point Nuclear Plant is set to phase out in 2020 and 2021. This plant supplies approximately 1/3 of the power going into NYC. Although renewables are on...Continue Reading
Electricity Markets New York experienced isolated volatility in daily pricing but saw little change week over week in the forward average. Texas took another upward leap and is at its highest level since the first week of June.Continue Reading
Electricity Markets New England and New York saw decreases in forward pricing. The 12-month average is primarily driven by the near-term months of November to February; outward months and years are still opportune.Continue Reading
Electricity Markets ERCOT has once again risen above PJM pricing and ISO-NE has seen another sharp increase this week. This continued trend can be linked to the underlying cost of natural gas.Continue Reading
Electricity Markets Electric pricing is up across all markets. New England has extended its steep upward movement with the increase largely tied to the underlying price of natural gas. New York is up from some of the lows that we’ve seen but the opportunity for good forward pricing remains.Continue Reading
Electricity Markets Electric prices have increased in all markets; New England is approaching levels not seen since 2015. These increases appear correlated to the underlying price of natural gas.Continue Reading
Electricity Markets Although wholesale energy is up a bit week over week in NYISO, capacity is down, making all in price still very attractive. PJM is appearing to handle the summer loads very well with mostly stable prices. There has been very little volatility in this region given the very warm temperatures and they have been good at adapting to changes such as coal and nuclear plant closures. In recent weeks, ERCOT has begun to mirror PJM. Both markets prices are partially being set by high efficiency natural gas generation...Continue Reading
Electricity Markets Electric markets were relatively stable, despite scorching hot temperatures across much of the country that attributed to peaking demand in many of the country’s ISOs. Both NYISO (hour ending 5 p.m.) and ISO-NE (hour ending 6 p.m.) hit their peak demand levels on Tuesday 8/28 and then again were reset on Wednesday 8/29.Continue Reading
Electricity Markets NYISO, ISO-NE and PJM all continue to see a very slow trend upward. Over the last few years seasonal extremes one way or another for both summer and winter months has driven the markets. ERCOT is still very unsettled with prices all over the board as the region is trying to determine its position and searching for a comfort level. Recently the EPA proposed the Affordable Clean Energy (ACE) rule as a replacement for the Clean Power Plan (CPP). The new process could allow coal plants to stay...Continue Reading
