Across North American wholesale power markets during December 20-26, 2025, grid operators maintained winter operations through the holiday period while issuing targeted reliability notices, settlement verifications, and administrative market updates. Price signals in the period were generally moderate with pockets of regional separation: CAISO’s hub prices in the early intervals of December 26 ranged from the high teens to the low $20s/MWh, ERCOT load-zone prices on Christmas Day morning were largely in the low-to-high teens, and NYISO’s LBMPs showed a sharp zonal spread at 8:00 AM on December 25 when NPX printed $62.72/MWh while many other zones were in the high $20s to mid $30s/MWh.