Seasonality
NWE seasonality — NorthWestern Energy
Over the last 11 years, NWE's strongest month on average has been November (+6.5%) and its weakest September (-2.5%).
Average return by month
Month-by-month statistics
| Month | Avg | Median | Up % | Best | Worst | Yrs |
|---|---|---|---|---|---|---|
| Jan | -0.23% | +0.63% | 60% | +7.5% | -9.0% | 10 |
| Feb | +1.46% | +2.76% | 70% | +7.4% | -8.6% | 10 |
| Mar | +0.91% | +1.54% | 80% | +11.5% | -14.9% | 10 |
| Apr | +0.83% | +0.97% | 60% | +9.7% | -6.3% | 10 |
| May | +0.20% | +0.36% | 50% | +8.1% | -6.9% | 10 |
| Jun | -2.20% | -2.57% | 40% | +5.1% | -9.3% | 10 |
| Jul | +0.30% | +1.21% | 50% | +7.4% | -5.9% | 10 |
| Aug | -0.29% | +1.11% | 70% | +7.1% | -10.8% | 10 |
| Sep | -2.55% | -3.41% | 30% | +5.2% | -9.9% | 10 |
| Oct | +2.64% | +0.99% | 60% | +16.7% | -6.6% | 10 |
| Nov | +6.55% | +8.40% | 78% | +15.8% | -2.7% | 9 |
| Dec | -1.58% | +0.34% | 60% | +3.4% | -7.1% | 10 |
Monthly returns heat map — NWE
price return, %| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.1 | 3.1 | -5.8 | 9.7 | -2.4 | 1.4 | -4.0 | 0.6 | -1.1 | 16.7 | 3.7 | +28.2% | |
| 2025 | 0.8 | 3.8 | 3.5 | 0.6 | -5.0 | -7.3 | 4.7 | 7.1 | 1.9 | 1.8 | 15.8 | -6.6 | +20.7% |
| 2024 | -5.4 | -0.4 | 6.3 | -1.0 | 3.0 | -3.6 | 7.4 | 1.1 | 5.2 | -6.6 | 3.3 | -3.2 | +5.0% |
| 2023 | -4.3 | 1.7 | 0.1 | 1.3 | -3.5 | 0.3 | -0.5 | -10.8 | -4.6 | -0.1 | 4.8 | 1.1 | -14.2% |
| 2022 | 1.7 | 4.1 | 0.0 | -6.3 | 8.1 | -3.8 | -5.9 | -4.5 | -7.0 | 7.2 | 10.6 | 1.6 | +3.8% |
| 2021 | -6.6 | 7.4 | 11.5 | 4.3 | -6.9 | -4.9 | 2.9 | 2.6 | -9.9 | -0.8 | -2.7 | 3.4 | -2.0% |
| 2020 | 7.4 | -8.6 | -14.9 | -3.6 | 4.2 | -9.3 | 3.2 | -8.2 | -5.8 | 7.2 | 11.3 | 0.5 | -18.6% |
| 2019 | 7.5 | 7.2 | 2.7 | -0.8 | 1.6 | 1.7 | -3.1 | 3.6 | 3.6 | -3.4 | -1.3 | 0.1 | +20.6% |
| 2018 | -9.0 | -6.0 | 5.3 | 2.1 | -0.8 | 5.1 | 3.6 | 1.1 | -2.2 | 0.2 | 8.8 | -7.1 | -0.4% |
| 2017 | 0.4 | 2.4 | 0.3 | 1.8 | 3.6 | -1.5 | -5.3 | 4.4 | -5.6 | 4.1 | 8.4 | -7.1 | +5.0% |
| 2016 | 1.4 |