Last night ISO New England implemented emergency procedures to reduce the amount of load on the system. Hourly prices spiked to over $600/MWH at 6:00 PM. Demand response customers were notified to drop load. No reason has been given by ISO New England for this spike.
On Thursday and Friday the EIA reported that New England Natural Gas spot market sold for nearly $30/DTh on Thursday and over $34/DTH. To give you some perspective that is nearly 5 times normal.
EIA Energy Market Alert
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