The operator of New York’s electric grid is predicting a sharp rise in wholesale electricity rates this winter, due to what it calls “economic and geopolitical factors.”
The New York Independent System Operator has updated information it first put out in the spring along with information from the Energy Information Administration. The NISOP says electric demand went way down during the COVID pandemic as people worked from home and businesses shut down, then demand suddenly surged as the economy opened back up again. Inflation has hit energy prices along with everything else, and the Ukraine conflict has made fuel prices unstable.