Cold Snap Playing Havoc with Electricity Bills Statewide

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Woods Rd SkatingWhen Natural Gas prices escalate, so do electricity rates


Please see the statement below from the NYISO, New York’s Electricity Regulatory Agency


Cold Snap Spikes Natural Gas Prices 136% RENSSELAER, N.Y. — N Y I S O ( / r t o – n y i s o / ) power prices surged to an average of $99.55/MWh in January, up 89% from December and 148% from the same month a year ago.

The ISO’s year-to-date monthly energy prices averaged $101.54/MWh in January, an increase of 142% from a year earlier.

New York natural gas prices jumped 136% for the month, averaging $17.94/MMBtu at the Transco Z6 hub. Prices were up 369% from a year ago. Gas prices peaked at $140.06/MMBtu on Jan. 8, near the end of a two-week cold spell.

The ISO’s local reliability share was 59 cents/MWh, up from 9 cents/MWh the previous month.

Energy demands/consumption has been very high, when this happens the power purchased to meet the higher demands is purchased at the elevated costs mentioned above

This is how the New York Electricity Market works, This is why your bill is higher