March 19, 2014
New England wholesale power price up 55% in 2013
The price of wholesale electricity in 2013 rose 55% over the record low price set in 2012, according to regional power grid administrator ISO New England.
The increase was primarily driven by the 76% increase in the average price of natural gas for New England in 2013, as natural gas is the predominant fuel used to generate the region's electricity.
Preliminarily data shows the wholesale price of electricity averaged $56.06 per megawatt hour in 2013.
The all-time high for wholesale electricity was $80.56 per megawatt hour, set in 2008.
Reporting from the Hartford Business Journal
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