Link to the full source article

RSS feed source: US Energy Information Administration

In-brief analysis

January 16, 2025

Data source: S&P Capital IQ

Average wholesale electricity prices at major trading hubs in the Lower 48 states were lower in 2024 than in 2023. In addition, prices were much less volatile than they have been over the last few years. Lower and more stable electricity prices in 2024 were mostly driven by low natural gas prices, as well as increases in generation for some lower cost renewable energy sources and new battery storage capacity.

Prices were highest in January, as a result of lower-than-usual temperatures in most of the Lower 48 states, especially in the Northwest. Cold weather increased natural gas consumption and prices, which increased prices for natural gas-fired electricity. After January, natural gas prices traded significantly lower on average during the rest of the year. Benchmark Henry

Click this link to continue reading the article on the source website.