- Electricity prices jumped 51%, to $80.28/MWh, in the first quarter of 2022 from $53.30/MWh in that period a year ago in the PJM Interconnection wholesale market, partly driven by an increase in natural gas prices, the grid operator’s market monitor said in a reportreleased Thursday.
- In New England, wholesale power costs soared 83%, to $137/MWh, in the first three months this year compared with $75/MWh in the same period last year, ISO New England’s market monitor said last week.
- The electricity price increases are partly caused by rising liquefied natural gas exports, according to consumer advocates. “The culprit is the high and accelerating price of natural gas, largely driven by LNG exports,” Paul Cicio, President and CEO of Industrial Energy Consumers of America, a trade group, said Friday in an email.
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