Average wholesale prices for electricity at major trading hubs in the United States were higher in 2021 than in 2020 as increasing costs for power generation fuels, especially natural gas, pushed electricity prices higher in
. Between February 14 and February 19, hourly wholesale prices at the ERCOT North trading hub exceeded $6,000 per megawatthour 70% of the time. For the month of February, the Texas wholesale electricity price averaged $1,485/MWh.throughout the United States, which led to increased electricity prices at other wholesale markets besides Texas.
The cost of natural gas is a significant driver of electricity prices because it often acts as the marginal fuel of generating units that operators
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