Wholesale electricity prices for 2024 in most areas of the U.S. are seen to be close to or slightly lower than in 2023, because of relatively stable generation fuel costs, the U.S. Energy Information Administration said in a report on Thursday. EIA forecasts U.S. wholesale prices to range between $30 per megawatt hour (MWh) and $40 per MWh outside of the Northeast, where the agency expects prices to increase and average $48/MWh in New York and $60/MWh in New England. Many factors influence the price of electricity in U.S. wholesale markets, but the most significant one is the price of natural gas, since it is often the most expensive fuel used to generate electricity, and many U.S. wholesale electricity markets set prices at this level.
Read full NASCAR article on Yahoo Sports
Read all NASCAR articles