Power use on the U.S. East Coast has been at its highest levels in years in recent days as a heat wave has been sweeping across the Northeast, including in New York City. Electricity demand in New York reached its highest since 2013, as the city temperatures have been above 90 degrees Fahrenheit for several consecutive days. Electricity use across the eastern power market run by PJM Interconnection jumped to 144,557 megawatts in the hour ended at 2 p.m. New York time on Tuesday, which was the highest demand since August 12, 2016, according to Bloomberg data. The increased demand has also resulted in higher wholesale electricity prices, with average prices in New York City at their highest since April. Power operators in the U.S. Northeast assured on Tuesday that they had enough power to keep the grid stable during the heat wave. “We expect to have sufficient capacity […]

Posted in: USA