ISO: Power use rose, prices fell in May
The warmest May in 12 years caused consumers to use more power last month, but it cost them less thanks to low prices for natural gas, according to ISO New England, which monitors the region’s power grid.
The average wholesale price for electricity in May was $26.12 per megawatt hour, or 1,000 kilowatt hours, the fourth lowest for any month since March 2003, when wholesale markets were launched in New England, ISO said. The record low, $25.39, was reached in March 2012. Meanwhile, the average wholesale price for natural gas reached a low of $1.85 per million British thermal units, or BTUs. That was well below the previous low of $2.39, set in April 2012.
May’s average electric energy price was 26.3 percent lower than that of May 2014, but a small jump of 0.9 percent from the April average of $25.88, ISO said.
ISO said the average temperature in May was the highest since 2003, at 63.1 degrees Fahrenheit. That’s about eight degrees above normal for the month.
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