Price of electricity to rise in New England

There is a recent report (h/t to “old friend”) that the prices for electricity are to rise in New England.  There are multiple power plants closing, including Vermont Yankee.  Vermont Yankee closed because of falling prices for electricity, but the prices are soon to rise.

Electricity generators are dropping out of the New England power market and the resulting shortfall will lead to some increase in power prices paid by consumers in three years.  Owners of more than 3,100 megawatts of power generating capacity have announced plans to retire, ISO said Wednesday in a news release…The ISO New England auction set the price to guarantee generating capacity — not the price of power but just the guarantee that generation capacity will be there in the future — at about $7 a kilowatt month. The price had been about $3 a kilowatt month, said David Tuohey.

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