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May 16, 2012 | last updated May 16, 2012 11:26 am

Report: Region's power markets 'competitive' in 2011

Holyoke, Mass.-based ISO New England Inc., which operates the region's bulk power system and wholesale electricity markets, said the average price of wholesale electricity energy fell 6% in 2011.

"All-in" cost, which includes capacity and ancillary services payments, fell 10%, according to the report from ISO New England. A megawatt hour cost $46.68 last year, a drop of more than $3.

The annual report, meant to judge if the electricity markets are operating efficiently and competitively, said energy prices fell last year because of lower natural gas prices, lower demand in the region, and higher hydroelectric production levels.

The total value of New England's wholesale electricity markets fell from $8.5 billion in 2010 to $7.6 billion in 2011.

The Worcester Business Journal contributed to this report.

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