RENSSELAER, N.Y. (AP) — New York's electrical grid operator says the average price of wholesale electricity hit a 12-year low last year, thanks to a glut of cheap natural gas and market competition that drives greater efficiency.
The New York Independent System Operator, or NYISO, said Wednesday that the average annual wholesale price of electric energy in the state was $45.23 per megawatt hour. The previous record low was $48.63 in 2009.
At one point after Tropical Storm Irene moved through upstate New York one year ago, national grid reported 156,000 customers without power. For a look back, and a look at what has changed since the storm, WAMC’s Brian Shields talked today with Bill Flaherty, a regional executive with National Grid, who recalls the preparation before the storm hit.
The Massachusetts Senate has unanimously passed a bill that aims to curb energy costs while requiring state utilities to buy more renewable power. WAMC's Tristan O'Neill reports...
The bill passed Thursday requires utilities to enter long-term contracts with renewable power companies for 7 percent of their energy supplies, up from 3 percent.
The companies must competitively bid for the contracts, instead of one-on-one negotiations allowed now. And a state payment to utilities that agree to the deals drops from 4 percent of the contract's annual value to 1 percent.