In 2008, average annual wholesale power prices in ERCOT were more than $63 per megawatt hour. In the first quarter of 2015, wholesale power prices averaged $26 per megawatt hour and they were about $17 per megawatt hour in the first quarter of this year. Power prices are at their lowest averages since 2002. The attached one-pager discusses why wholesale power prices have gone so low and what these sustained prices mean for Luminant and other generators.