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Explaining the Impact of National & Global Conditions on Electricity Prices

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Explaining the Impact of National & Global Conditions on Electricity Prices

May 18, 2022

Fuel costs have risen dramatically in the past year due to economic factors rooted in the pandemic and amplified by the Russian invasion of Ukraine. Spiking global demand, lagging supply, and global instability caused by war, have combined to bring fossil fuel prices to historically high levels. 

A white paper by the NYISO, “Impact of National & Global Conditions on Electricity Prices in New York:  An Explainer,” explores the various factors and cost drivers behind recent increases. The report also discusses how wholesale competitive electric markets benefit consumers by continually searching for the lowest cost solutions available.

The NYISO report sources and summarizes material from The White House, the Energy Information Administration, the New York State Public Service Commission, the U.S. Department of Labor as well as Power Trends, our very own annual state of the grid report. The white paper is intended to help serve and educate consumers, the media and market participants, and will be updated throughout the summer cooling months and into the winter heating season, as conditions and data change.  

For more on how which global economic factors are having the biggest influence on the cost of energy in New York, see the white paper


To learn more about the grid of the future in New York, visit the 2040 Power Grid webpage

We are an independent, not-for-profit corporation responsible for operating the state’s bulk electricity grid, administering New York’s competitive wholesale electricity markets, conducting comprehensive long-term planning for the state’s electric power system, and advancing the technological infrastructure of the electric system serving the Empire State.

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