Lower natural gas prices and increased renewable penetration pushed wholesale power prices down sharply in most of the country last year, FERC reported last week.
The commission’s 2019 State of the Markets report noted that prices dropped 20% to 30% in MISO, PJM, NYISO and ISO-NE compared with 2018. Prices in northern CAISO were down 10%, and those in southern CAISO down 20%.
SPP’s prices were the lowest of the organized markets, averaging $30.43/MWh, unchanged from a year before, according to the report by the Office of Energy Policy and Innovation’s Division of Energy Market Assessments (DEMA).
Only ERCOT saw an increase, as record-high demand in summer pushed prices for the year to $49.65/MWh, up 20%.
Read full article at RTO Insider.