Spot Power Prices Spike in Eastern US
Spot wholesale electricity prices doubled this week in the Mid-Atlantic as the first 90-degree temperatures of the season hit the region, according to Bloomberg.
Temperatures rose Tuesday to 97 degrees F in Washington, DC, and 93 degrees F in Philadelphia.
PJM Interconnection projected that electricity production in its 13-state grid would peak at 143,146 MW Tuesday, the most since July, 2013, reports Bloomberg.
The heat increased power prices in PJM’s Eastern hub Tuesday from $44.27/MWh to an average $84.82/MWh for the hour ending at 3 pm from the same time Monday, according to grid data compiled by Bloomberg.
In PJM’s Western hub, spot power climbed $26.64, or 50 percent, to an average $79.86, according to Bloomberg.
Photo: Hot weather via Shutterstock
- Six Essential Steps to Drive Effective Energy Management
- How to Use Lean Tools to Cash In On Environmental and Energy Savings
- Top 3 Reasons to Calculate Your Environmental Footprint
- Trends in Energy Management: Where Should Your Next Investment Be?
- Sustainability Reporting for Commercial Real Estate: GRESB
- Integrating sustainability into your ERM framework
- Essential Guide to Lighting Retrofits and Upgrades
- 2014 Environmental Leader Product and Project Awards
- Alarms Management: The Future is Now
- The Guru’s Guide: Implementing Environmental ERP Systems
- Energy Efficiency Requires Engineering Efficiency
- Integrated Building Optimization: A Crucial Convergence of Demand-side and Supply-Side Energy Management Strategies
- Driving Productivity and Profit with Industrial Energy Management
- Energy Procurement in 2014: Products & Programs to Optimize Savings
- BUYING STRATEGIES IN A VOLATILE MARKET: What Businesses Need to Know about Retail Electricity Procurement