Dive Summary:
- Data from New York Independent System Operator, which operates the state's power grid, shows electricity consumption in New York City is approaching a two-year high as consumers turn up the air conditioner to escape this week's heat wave.
- New York City utility owner Consolidated Edison Inc. has crews and spare transformers on standby in the event of power failures, and spot electricity prices for New York are valued around $104.58 a megawatt-hour, up $7.59 over yesterday.
- The PJM Interconnection LLC network, which operates a grid that extends from New Jersey to North Carolina and Illinois, experienced price increases yesterday due to supply shortfalls and transmission bottlenecks in some areas, but prices fell $46.98 to $74.09 a megawatt-hour during the hour ended at 10 a.m.
From the article:
... Hot and humid weather on the East Coast buoyed power prices for a third day. The high in temperature in Manhattan may reach 95 degrees Fahrenheit (35 Celsius), 11 above normal, according to AccuWeather Inc. Electricity consumption in the city’s five boroughs is heading toward a two-year high, according to data from the New York Independent System Operator Inc. ...