June 5, 2025

New England winter saw highest electricity prices since 2014 amidst coldest weather in a decade

High natural gas prices, driven by increased heating demand, pushed wholesale electricity costs up 116% compared to winter 2024.

Price Surge: Wholesale power prices in New England last winter soared to the highest in over a decade, according to ISO New England Inc.’s quarterly market report from the market monitor. The high prices were driven by the coldest average temperatures since 2015, which saw heavy reliance on oil generation and LNG imports. Cold Reality: The total estimated wholesale electricity ...

Details:

Filing Date: June 4, 2025

Docket Numbers:

ZZ25-4

Short Summary:

Wholesale power prices in New England last winter soared to the highest in over a decade, according to ISO New England Inc.’s quarterly market report from the market monitor. The high prices were driven by the coldest average temperatures since 2015, which saw heavy reliance on oil generation and LNG imports.

Impact Level:

Categories:

Energy Market Intelligence

Tags: LNG, Natural Gas, Peak Load, Wholesale Power Prices, Winter Season Market Report

Entities: ISO New England Inc.

Markets: ISO New England (ISO-NE)

Regions: Northeast

States:

Regulators: FERC

Courts:

Documents:

Internal Market Monitor 2025 Winter Quarterly Markets Report