Wholesale prices have been very low all week (less than 2c/kWh today) which is good for consumers. High renewable output also gives gas plants a chance to remain on outage to get ready for less windy end of summer peaks. There are still ~10 gigawatts of thermal plants offline.
Wholesale electricity prices dropped below 2 cents per kWh on June 28, 2026, and…
Brief
Wholesale electricity prices fell below 2¢/kWh on June 28, 2026, reflecting a week of very low prices driven by strong renewable output. The surplus renewables are enabling gas plants to remain on outage for maintenance and readiness ahead of a predicted less-windy end-of-summer peak, while roughly 10 GW of thermal capacity stays offline.
Why it matters
Wholesale electricity prices dropped below 2 cents per kWh on June 28, 2026, and remained very low across the week.
Key details
- High renewable generation is allowing gas-fired plants to stay on outage now, giving time to prepare for a forecasted less-windy period at the end of summer.
- About 10 gigawatts of thermal generation capacity remain offline during this low-price period.