New England Becomes Net Electricity Exporter for First Time in 20 Years — What Changed
ISO New England's Internal Market Monitor confirmed in its February 2026 quarterly report that New England was a net exporter of electricity during fall 2025 — likely for the first time in at least 20 years. This means more power flowed out of the six-state region to neighboring grids than flowed in. Analysis of 5 consecutive ISO Newswire quarterly reports reveals the structural shifts behind this historic reversal: falling natural gas prices, rapid renewable energy growth, and improving grid interconnections have transformed New England from a chronically import-dependent region to one that now contributes surplus power to the broader Eastern grid.
The Price Trajectory: How ISO-NE's Own Reports Track the Shift
| Period | Wholesale Avg | ISO-NE Source |
|---|---|---|
| H2 2023 | $38.50/MWh | Monthly wholesale electricity prices, Oct 2023 |
| Winter 2023-24 | $42.10/MWh | Monthly wholesale prices, Jan 2024 |
| Spring 2024 | $24.80/MWh | Spring 2024 costs fell |
| Winter 2024-25 | $35.20/MWh | Winter prices hit 5-year low |
| Fall 2025 | Net Exporter🏆 Historic milestone | Fall 2025 Internal Market Monitor report |
All sources: ISO Newswire (isonewswire.com), Internal Market Monitor quarterly reports
Five Structural Drivers Behind the Shift
Renewable Generation Growth
Solar +47% since 2022, offshore wind contracts online
LNG Terminal Security
Everett LNG terminal operations stabilized — no longer the single-point-of-failure
Demand Efficiency
Heat pump adoption reducing winter gas heating demand, shifting load to electric
Interconnection Capacity
New England regularly exporting to New York (NYISO) via Cross-Sound Cable and other ties
Natural Gas Prices
Henry Hub averaging $2.80/MMBtu — 60% below 2022 winter peaks
Why This Matters for New England Businesses
For two decades, New England's electricity cost premium was treated as a fact of life — a structural penalty driven by pipeline constraints, import dependence, and winter fuel scarcity. The region consistently paid 30-50% more per megawatt-hour than PJM or NYISO customers.
The net-exporter milestone signals that this premium is eroding. The ISO-NE Internal Market Monitor's own data shows the trajectory:
- 2023 wholesale prices fell year-over-year
- Winter 2024-25 energy prices hit a 5-year low
- Spring 2024 market costs dropped again
- Fall 2025: net exporter — the culmination
Procurement Insight
New England businesses that locked in long-term contracts during the 2022-2023 winter price spikes may be overpaying relative to current market conditions. If you're in CT, MA, ME, NH, RI, or VT with a contract signed before mid-2024, a rate comparison could reveal significant savings.
The Everett LNG Factor
One frequently overlooked driver: ISO-NE's own May 2023 analysis modeled what would happen to winter operations with and without the Everett LNG terminal in Revere, Massachusetts. The study concluded that the terminal's continued operation was critical for winter reliability. The terminal has since maintained operations, removing what was the region's single biggest winter risk factor.
Cited Sources
- ISO Newswire: Monthly wholesale electricity prices, Oct 2023 — ISO Newswire
- ISO Newswire: Monthly wholesale prices, Jan 2024 — ISO Newswire
- ISO Newswire: Spring 2024 costs fell — ISO Newswire
- ISO Newswire: Winter prices hit 5-year low — ISO Newswire
- ISO Newswire: Fall 2025 Internal Market Monitor report — ISO Newswire
- ISO-NE Everett LNG Terminal Analysis, May 2023 — ISO Newswire
- ISO-NE 2025 Energy Sources and Demand Publication — ISO Newswire, February 2026
New England Rates Are Falling — Are Yours?
The structural shift to net exporter status means lower wholesale prices. Find out if your current contract reflects the new reality.
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