On Sunday, July 24th, the weather was hot and sunny.According to ISO New England, what was the wholesale price for electricity at 3PM?
A. eight cents per KWh because the sun is shining and solar power is cheap
B. ten cents per KWh because the wind is blowing and wind power is cheap
C. fifteen cents per KWh because the Seabrook nuke plant is offline there is not enough solar and windto offset the lost generation.
D. eighteen cents per KWh because all the solar, wind, natural gas, hydro and nuclear-powered generators are not enough to meet the demand. So, ISO is paying NextERA to run its oil generators, including those on Cousin’s Island.
Answer is “D”. Eighteen cents per KWh! This is scary high – almost twice the price Mainers are currently paying retail! Mainers can expect the PUC to announce another substantial increase in retail electricity prices later this year. No doubt that announcement will come AFTER the November elections!