CEG · 10-Q · 2026Q3 · Full report

Regional Electricity Price Trends

Constellation Energy Corp · 2026-11-09 · Importance 59 · Surprise 64

Average day-ahead electricity reference prices rose year over year in several markets in the nine months ended September 30, 2026: PJM West increased 52.9%, PJM ComEd 20.5%, New York Central 25.7%, and ISO-NE Southeast Massachusetts 13.1%. CAISO NP15 declined 17.9% over the same period, while ERCOT North and Houston rose 5.5% and 2.5%, respectively. The filing notes that these reference prices do not represent prices ultimately realized by Constellation. It also reports PJM capacity-price increases of 97.8% in the Eastern Mid-Atlantic Area Council and 117.8% in ComEd over the nine-month period.

Key facts

• PJM West average day-ahead around-the-clock electricity reference price was $69.97/MWh in Q3 2026, up $23.20 or 49.6% year over year.
• PJM ComEd average day-ahead electricity reference price was $51.44/MWh in Q3 2026, up 20.4% year over year.
• PJM Eastern Mid-Atlantic Area Council capacity price averaged $329.17/MW-day in Q3 2026, up 22.0% year over year.
• ERCOT North average day-ahead electricity reference price was $34.41/MWh in Q3 2026, down 1.8% year over year.