Wholesale Electricity Prices

A wholesale electricity market exists when competing generators offer their electricity output to retailers.

Wholesale electricity prices.

The price you pay for electricity depends on numerous factors including but not limited to your location time of year consumption and market changes disruptions. Wholesale electricity and natural gas market data. Outcomes for the 2019 20 financial year have been. This page provides the key data series for these markets.

This page is meant to provide a snapshot of selected daily prices only. Electricity wholesale prices in gb over the past decade have largely been driven by changes in the gas price. Changes in carbon prices have also influenced electricity prices in recent years and more recently a reduction in demand. The average electricity rate is 13 19 cents per kilowatt hour kwh.

It is the single highest component of what customers end up paying for electricity ahead of distribution and transmission charges environmental charges or vat. Record high electricity demand in the summer led to much higher 2019 wholesale electricity prices in the electric reliability council of texas ercot electricity market. This is because gas fired generation is often the marginal source of supply and hence sets the electricity price. While wholesale pricing used to be the exclusive domain of large retail suppliers increasingly markets like new england are beginning to open up to end users.

Prices are updated each weekday excluding federal holidays typically between 7 30 and 8 30 a m. Wholesale electricity energy prices with supply costs and supplier margins make up 58 of the average uk domestic electricity bill. In the process a commodity market for wholesale electricity transactions was established. In 2018 ice stopped providing natural gas price index data to eia.

The charts and tables as well as underlying data which can be downloaded. The retailers then re price the electricity and take it to market. You can find daily wholesale natural gas and other spot prices at major trading hubs under the today in energy prices tab. The aer monitors the performance of wholesale electricity and gas markets and publishes data from that monitoring in reports such as the annual state of the energy market and wholesale markets quarterly report.

Wholesale electricity prices at several major hubs were generally lower in 2019 than in 2018 except in texas. December 2017 was the last month we included this data on this webpage. What s my current electric rate. Average price of electricity to ultimate customers by end use sector by state june 2020 and 2019 cents per kilowatthour.