Report: Natural gas price hikes pushed electric rates higher in 2013
Rising prices for natural gas delivered to New England pushed wholesale electricity prices in the region up by 55 percent over 2012, according to preliminary figures from ISO New England, the operator of the region’s wholesale electricity markets.
The 2013 annual average was the fifth-highest since 2003, when competitive markets in their current form were introduced in New England. The all-time high was $80 per mWh during 2008, just before hydrofracturing (or “fracking”) for shale gas in Pennsylvania and New York triggered the natural gas revolution.
Natural gas is the predominant fuel used to generate the region’s electricity — about 46 percent of total generation in 2013 — so wholesale power prices tend to track the price of natural gas, according to ISO spokeswoman Marcia Blomberg.
The crunch hit home in 2013, when the capacity of pipelines serving New England crashed under the increasing demand for natural gas to heat homes and businesses and to generate electricity.
“I am encouraged that there is interest from the private sector in increasing gas line capacity, and that’s certainly a factor we should consider,” she said. “It’s also really important that we do everything we can to make our energy prices more competitive with the rest of the country. That’s what I am hearing from businesses throughout the region.”
READER COMMENTS: 1
- Havenstein's Pledge: It's a sound business plan - 1
- 'Strange ideas' Banning guns made in NH - 25
- Personhood Controversial? Really? - 29
- Pocket Constitutions: Windham's non-scandal - 15
- Obama's escalation: In Iraq, too broad a fight - 14
- NH's prison population: The real story behind a failed law - 12
- Constitutional thought: Enter our student essay contest - 0
- Hawkish Shaheen: What war profiteers? - 43
- Walt's new Pledge: Planning for a better NH budget - 6
READER COMMENTS: 0
- Nashua man accused of cutting wife’s throat committed to psychiatric hospital - 1
- Two may have stabbed each other in Concord parking garage incident, police say - 0
- Manchester joyride in a stolen truck lands two in handcuffs - 0
- High School Football Power Poll: Some shuffling in the middle - 0
- License revocations for DWI announced - 0
- Pamela Diamantis: USNH’s tuition freeze offer is good for NH’s future - 1
- Crosstown Variety Store robbed in Manchester - 0
- Dave D'Onofrio: A well-earned celebration for Sox. - 0
- A’s earn their way into postseason play - 0
Dover man's nightmare lesson for everyone
Fall hikers throughout NH put on notice
'Strange ideas' Banning guns made in NH
Personhood Controversial? Really?
License revocations for DWI announced
Dredging planned for Milford's Osgood Pond