Higher energy costs (2024 costs versus 2023 costs) were largely attributed to increased production costs and changes in the regional supply mix. Specifically, higher CO₂ emissions costs under the Regional Greenhouse Gas Initiative (RGGI) program and lower imports from Quebec were two key contributors. By contrast, natural gas prices—the primary driver of electricity prices in New England—remained relatively stable, averaging $3.06/MMBtu in 2024, similar to 2023 levels.
Higher Carbon Taxes and Similar Natural Gas Costs = Higher Electricity Costs
by Dan McKay
on Sunday
ISO-NE Reports:
Higher energy costs (2024 costs versus 2023 costs) were largely attributed to increased production costs and changes in the regional supply mix. Specifically, higher CO₂ emissions costs under the Regional Greenhouse Gas Initiative (RGGI) program and lower imports from Quebec were two key contributors. By
contrast, natural gas prices—the primary driver of electricity prices in New England—remained
relatively stable, averaging $3.06/MMBtu in 2024, similar to 2023 levels.