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PRESS RELEASE | NYISO Forecasts Higher Winter Wholesale Electric Prices

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PRESS RELEASE | NYISO Forecasts Higher Winter Wholesale Electric Prices

September 13, 2022

Rensselaer, NY – The New York Independent System Operator (NYISO) is warning of a sharp rise in wholesale electric costs expected this winter due to several economic and geopolitical factors that continue to impact the market cost of natural gas used in the production of electricity.  

As part of its effort to prepare consumers for this winter, the NYISO released an updated white paper, first released in May, that explores the cost drivers behind commodity increases of the past year and predicts further commodity cost increases this winter. The NYISO is the non-profit, independent entity responsible for administering and overseeing the wholesale electric markets.  

The NYISO’s report, Impact of National & Global Conditions on Electricity Prices in New York, sources and incorporates material from the Energy Information Administration, the New York State Public Service Commission, the U.S. Department of Labor as well as Power Trends, the NYISO’s 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 as conditions and data change.

A copy of the updated white paper is available here

The NYISO also recently hosted experts from the Energy Information Administration on its Power Trends podcast to discuss energy price impacts. This latest episode and the entire series are available for download on nyiso.com/podcast, YouTube, Apple, Google, and Spotify.

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.