New England Electricity Prices Spike Amid Trump Tariffs Rumors As tariffs on Canada and Mexico went into effect early Tuesday morning, electricity prices in the Northeast appeared to surge. However, it's unclear whether these price spikes are directly related to the new duties. Electricity prices for New England have been fluctuating between $50 and $125 per hour over the past few weeks. A recent price spike was observed between midnight and 1:00 a.m. on March 1. Despite this, some believe that tariffs on Canadian electricity imports may be responsible. The two independent system operators in the Northeast, ISO-New England and NYISO, have expressed uncertainty about whether tariffs will apply to imported electricity from Canada. Both organizations claim they are still waiting for clarification from the Trump administration. NYISO stated that there are strong legal arguments suggesting that Canadian electricity imports are not subject to the new tariff order. The organization believes it is unlikely to be required to collect or remit duties on these imports. When asked if this meant the Trump administration had provided any guidance, NYISO declined to comment. Similarly, ISO New England confirmed that they have not received clear guidance from the Trump administration regarding tariffs on Canadian electricity imports. However, they do expect additional information and plan to continue seeking clarification through open governance processes. Both organizations submitted proposals to FERC last week outlining potential methods for collecting duties on imported Canadian electricity. If implemented, these tariffs could impact customers in the Northeast significantly. New York-based Ontario has announced plans to impose a 25% export tax on electricity delivered to roughly 1.5 million customers in Michigan, Minnesota, and New York. This move is likely to result in higher prices for consumers if the Trump administration proceeds with increasing tariffs next month. The region may also experience increased natural gas costs due to new duties imposed on Canadian imports. The American Natural Gas Association notes that 9% of U.S. natural gas supplies are imported from Canada, and a 10% tariff could result in an annual burden of $1.1 billion for U.S. consumers.