WASHINGTON, DC — U.S. wholesale power prices have decreased 85% from year-ago levels, according to a report from Platts, an energy information, research, consulting, and marketing services business.

The largest year-to-year declines were in the Western United States, due to that region’s power crisis which had raised prices last year to record levels. However, prices in other regions have also seen a significant drop.

Natural gas prices are down which has brought lower electric power prices, Platts explained. Demand is also down because of the mild winter and weaker economy.

Publication date: 02/25/2002