Day-ahead electricity prices across the US Northeast show bullish trend on Intercontinental Exchange driven by winter storm and rising natural gas costs
The US Northeast experienced a surge in day-ahead electricity prices across various zones on the Intercontinental Exchange (ICE) due to forecasted winter storm activity and rising natural gas costs. Prices for on-peak delivery jumped significantly, with New York's ISO Zone G seeing a $65.25 increase to approximately $113.75 per MWh, while regional natural gas prices also rose, driven by increased demand and supply chain volatility. The anticipated arrival of the region's first winter storm is expected to lead to higher electricity demand, with grid operators anticipating peakload increases ranging from 500 MW to over 20 GW in New England on December 2nd.
