A reader writes:
While I seldom check in on the New England electricity situation any more, the current European status prompted me to take a look at today's ISO site for NE.
Interesting stuff.Spot price passed $100/Mw this morning ... $90+ as of this post.
The Day Ahead (tomorrow) for the Boston area (about 95% of the actual cost, in routine operations) is over $119/Mw.
Oil being burned amounts to 2% (in September!) and is almost as much as the total wind generation.These people are sleepwalking into an unmitigated disaster should very cold snaps hit that area come this winter.
That reader and I are on the same of music. I seldom check in on the New England ISO now that I have a better feeling for it.
But wow, look at the spot price for electricity this morning. A lot of folks wrote me regarding the "Texas Freeze" last February (2021). The difference between the two: New England has a structural issue that is not being addressed by New England, whereas the "Texas event" was a one-off, and regulators are addressing the issue.
To put the $120 / Mw in context, one expects to see numbers between $15 and $30. ISO NE can be tracked here. Wow, $90 right now and this should be the best time of the year -- no longer the hot summer and not yet the cold winter. This is unnerving.
