FOR IMMEDIATE RELEASE:
CONTACT: (603) 369-4301
December 12, 2013
CONCORD, NH – Today, the New England Ratepayers Association (NERA) weighed in on high wholesale electricity prices in the region, which have recently topped 30 cents per KWh.
Marc Brown, President of NERA, made the following statement regarding the recent spike in electricity rates:
“New England has often been susceptible to severe fluctuation in the cost of electricity, but the recent spikes have been less volatile and, unfortunately for ratepayers, more sustained. For the past several months, NERA has expressed concern over the region’s electricity prices being too tied to the natural gas market, which, because of limited pipeline capacity in the region, have seen prices soar to seven times the national average. This has led to events like today, where wholesale electricity prices have hovered at or near 25 cents per KWh for much of the day—rates that are becoming far too common since mid-November and will only get worse with colder weather on the horizon.
Today, the ISO-NE, who manages the region’s grid, issued an alert for all of New England due to capacity deficiency. Now is the time for legislators and stakeholders to advocate for sound energy strategies that would provide more reliability and affordability to the New England’s electricity market—and stop trying to micromanage or prevent the development of new supply.
As a region, New England is paying a high price for energy policies enacted over the past ten years. Instead of providing relief to the residents and businesses that pay the bills, these policies are costing them millions of dollars. What is most unfortunate is that we still have several more months of winter to go, and several more years of this type of pricing before there is any hope of relief.”
For more information, contact firstname.lastname@example.org or visit www.neratepayers.org.