Weekly Power Markets Report: Winter Preparedness and Western Market Integration Advances

The wholesale power markets across North America for the week of December 6-12, 2025, were marked by a clear shift toward winter operational protocols and increased regulatory scrutiny over resource adequacy. In the Eastern Interconnection, mild early-December temperatures kept real-time prices relatively low, though natural gas basis differentials began to widen in New England and New York, signaling the onset of seasonal fuel constraints. Meanwhile, the Western Interconnection experienced more volatility as hydro reserves were managed cautiously against an approaching cold front in the Pacific Northwest. A key theme this week was the acceleration of compliance filings related to recent FERC orders on interregional transfer capability, with major RTOs submitting different methodologies that highlight the ongoing tension between federal directives and regional autonomy.