Electricity Monthly Update
Regional Wholesale Markets: March 2026
The United States has many regional wholesale electricity markets. Below we look at monthly and annual ranges of on-peak, daily wholesale prices at selected pricing locations and daily peak demand for selected electricity systems in the Nation. The range of daily prices and demand data is shown for the report month and for the year ending with the report month.
Prices and demand are shown for six Regional Transmission Operator (RTO) markets: ISO New England (ISO-NE), New York ISO (NYISO), PJM Interconnection (PJM), Midwest ISO (MISO), Electric Reliability Council of Texas (ERCOT), and two locations in the California ISO (CAISO). Also shown are wholesale prices at trading hubs in Louisiana (into Entergy), Southwest (Palo Verde) and Northwest (Mid-Columbia). In addition to the RTO systems, peak demand is also shown for the Southern Company, Progress Florida, and the Bonneville Power Authority (BPA). Refer to the map tabs for the locations of the electricity and natural gas pricing hubs and the electric systems for which peak demand ranges are shown.
In the second tab immediately below, we show monthly and annual ranges of on-peak, daily wholesale natural gas prices at selected pricing locations in the United States. The range of daily natural gas prices is shown for the same month and year as the electricity price range chart. Wholesale electricity prices are closely tied to wholesale natural gas prices in all but the center of the country. Therefore, one can often explain current wholesale electricity prices by looking at what is happening with natural gas prices.
Wholesale prices
Most wholesale electricity prices were at the lower end of their yearly range at most regional trading hubs in March 2026. Northern California saw a relatively wide range in its wholesale electricity price during the month, ranging from around $2/MWh to $61/MWh in March 2026. At the Northwest (Mid-C) hub, wholesale electricity prices were at or around the lowest levels seen during the twelve-month period ending March 31, 2026.
Wholesale natural gas prices traded in fairly tight ranges across most markets in March 2026. New England was the only exception, with prices ranging more widely from around $2.05/MMBtu to $11.25/MMBtu during March 2026.
Electricity system daily peak demand
Most parts of the country saw their electricity system daily peak demand on the lower end of their twelve-month ranges during March 2026. In particular, New York State (NYISO) and New England (ISONE) saw daily peak demand at the lower end of their respective twelve-month ranges during the month. The Bonneville Power Administration (BPA) was the only area that saw peak electricity demand reach into the upper portion of its twelve-month range on some days during March 2026.