Report: SPP had lowest average wholesale electricity prices nationwide in 2019
In the Federal Energy Regulatory Commission’s 2019 State of the Markets Report (published March 19, 2019), the commission found SPP’s average wholesale electricity prices remained the lowest of any organized market in the U.S. in 2019. Last year’s report showed SPP’s market had the lowest prices in 2018 also.
Working in tandem with SPP’s other services, our Integrated Marketplace has produced the lowest wholesale electricity costs in the nation, saved SPP’s market participants cumulatively more than $3.5 billion and enabled access to renewables at a degree previously unimaginable, among providing other benefits like enhanced reliability to SPP’s stakeholders and the region as a whole.
Since it launched in 2014, our Integrated Marketplace has yielded an average of $627 million in annual savings derived from lower wholesale electricity costs, reductions to excess capacity requirements and other efficiencies facilitated by SPP’s robust market processes.
SPP’s markets select the most cost-effective generation to meet customer demand and mitigate grid congestion in real time. This enables operations staff more time to monitor and prepare for unusual circumstances that require manual intervention and critical thinking. Our Integrated Marketplace also determines days in advance the resources needed to economically ensure reliability. It does so more effectively and efficiently than methods available to most individual utilities working by themselves to ensure the reliability of their systems.