Power Magazine: Data Tool Shows Pandemic’s Impact on Power Prices

A clean energy valuation and risk analytics company said that low demand for energy during the COVID-19 pandemic, along with low prices for natural gas and strong power generation from renewable energy resources, has brought unprecedented low prices for electricity in multiple U.S. markets. 

REsurety said its Renewable Energy Market Analytics Platform (REmap) shows that the production-weighted wholesale price of electricity for wind projects fell to all-time lows in recent weeks and months across markets including the Southwest Power Pool (SPP), PJM Interconnection, and the Midcontinent Independent System Operator (MISO). The company said production-weighted prices dropped below $2 per MWh in areas with a high penetration of wind power, such as Oklahoma.