Wholesale electric prices in New England during 2015 hit their second-lowest point in the past 13 years, officials with the region’s power grid operator said Tuesday.
The main reason for the near record lows in wholesale electric prices is the continued decline in the cost of natural gas, according in to officials with Holyoke, Masschusetts-based ISO-New England, which operates the region’s electric grid as well as its wholesale electric market.
Natural gas is the predominant fuel used to run electric generation plants in the region, with about 49 percent of the power producing units running on it. The price of natural gas hit its second-lowest level in 12 years during 2015.
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