NYISO in April 2026: Interzonal convergence slowed as upstate UCAP prices fell
NYISO in April 2026: Interzonal convergence slowed as upstate UCAP prices fell
The April reference price gap between upstate and NYC narrowed year-over-year. But, it widened sharply between March and April, because upstate unforced capacity (UCAP) prices fell while NYC's held steady. Upstate UCAP prices dropped from $2.64/kW-month in March to $1.82/kW-month in April (-31%), pulling upstate Reference Capacity Prices (RCPs) down by more than $5/MW-day. NYC's UCAP price barely moved, holding at $6.26/kw-month. The result: NYC's reference price stayed around $73/MW-day, while every upstate zone fell. Upstate prices were still 34-44% higher than April 2025, but their was less convergence than in March.
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