R. Lynn Parins

Foley & Lardner are most popular: within Coronavirus (COVID-19) topic(s) After nearly two decades of flat electricity demand, the U.S. power market has entered a new era of rising prices, growing volatility, and structural change.

After nearly two decades of flat electricity demand, the U.S. power market has entered a new era of rising prices, growing volatility, and structural change. Wholesale electricity prices surged across the country in 2025, with year-on-year increases of 62% in New York, 60% in New England, and 45% in PJM, driven by higher natural gas prices, tightening capacity markets, and deepening grid constraints.

After nearly two decades of flat electricity demand, the U.S. power market has entered a new era of rising prices, growing volatility, and structural change. Wholesale electricity prices surged across the country in 2025, with year-on-year increases of 62% in New York, 60% in New England, and 45% in PJM, driven by higher natural gas prices, tightening capacity markets, and deepening grid constraints.