ISO: New England will have enough electric, lowest wholesale price in four years


ISO: New England
will have enough electric,
lowest wholesale price in four years

Vermont Business Magazine Finalized results filed on Tuesday confirm that New England’s annual capacity auction concluded at a lower price than the previous three auctions and with sufficient resources to meet electricity demand in 2020–2021. ISO New England Inc filed the finalized results (link is external) with the Federal Energy Regulatory Commission (FERC).

New England’s wholesale electricity prices in 2016 were the lowest in 13 years, due largely to low natural gas prices, as well as mild weather that dampened energy demand, according to ISO New England, the operator of the region’s bulk power system and wholesale electricity marketplace.

The 2016 electricity and natural gas prices and the total market value were the lowest since 2003, when New England’s current competitive electricity markets were established. The average annual wholesale power price in New England last year was $28.94 per megawatt-hour (MWh). The total value of New England’s wholesale electric energy market in 2016 was $4.1 billion, $1.1 billion less than the $5.2 billion value for wholesale electricity in 2012, the previous year with the lowest market value. The average price of natural gas—the fuel used to generate 49% of the electricity produced in the region—was $3.09 per million British thermal units (MMBtu) in 2016. (See table for year-by-year comparisons.)

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Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT

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(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/

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Hannah Pingree on the Maine expedited wind law

Hannah Pingree - Director of Maine's Office of Innovation and the Future

"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."

https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/

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