Keeping the Lights On Thank goodness for fuel oil which is helping provide both heat and power. Natural gas, hydro, coal, solar, and wind just can’t keep up with demand for electricity caused by the frigid temperatures. As of Thursday night, fuel oil is ensuring the grid has enough power, according to ISO-NE. The sustained cold is requiring round-the-clock usage of oil-fired generators by electric utilities. Due to a shortage of natural gas, the wholesale spot price for power has jumped as high as 30-cents per kWh, according to ISO-NE.
Across the northeast, natural gas utilities and are unable to supply all of their customers. In many cases, interruptible load natural gas customers were forced to shut off their piped gas and switch to heating oil.