Electricity Monthly Update
Regional Wholesale Markets: April 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
Wholesale electricity prices were at or near the lower end of their yearly range at most regional trading hubs in April 2026. The Midwest (MISO), Southwest (Palo Verde), Southern California (SP-15), Northern California (NP-15), and the Northwest (Mid-C) saw wholesale electricity prices reach their lowest levels of the twelve-month period ending April 30, 2026. New England and New York City also traded at the lower end of their respective twelve-month ranges, though prices in both markets did not quite reach their twelve-month lows. Louisiana (into Entergy) prices were similarly near the lower end of their annual range and came close to, but did not quite reach, their twelve-month low. The Mid-Atlantic (PJM) traded at the lower end of its yearly range as well, but with a notably wider price spread than the neighboring New England and New York City hubs. Texas (ERCOT) was the clearest outlier, with wholesale electricity prices ranging from $22/MWh to $87/MWh during April 2026, placing the monthly range in the middle of its twelve-month span rather than near the lower end.
Wholesale natural gas prices were in fairly tight ranges at or near annual lows across all markets in April 2026. Prices at all major hubs reached their lowest levels of the preceding twelve months during the month, consistent with typically low heating and cooling demand during a spring shoulder month.
Electricity system daily peak demand
Most parts of the country saw electricity system daily peak demand near the lower end of their twelve-month ranges during April 2026, reflecting the mild temperatures typical of a spring shoulder month. New England, New York State, the Midwest, and California all had daily peak demand near yearly lows during the month. Texas (ERCOT) was an exception, with peak demand reaching the upper end of its twelve-month range toward the end of April, likely reflecting warmer-than-typical spring temperatures across the region. The Mid-Atlantic (PJM), Southern Company, Progress Florida, and the Northwest (Bonneville) all saw peak demand in the middle of their respective twelve-month ranges during April 2026.