Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Northeast Power Prices Jump As Heat Wave Forces Millions To Crank Up Air-Conditioning 

Courtesy of ZeroHedge View original post here.

With the latest heat wave subsiding in the northeastern U.S., after several days of dangerously high temperatures above 90 degrees, power prices skyrocketed as tens of millions turned down their thermostats. 

According to Bloomberg, electricity prices in New England tripled on Monday from a year ago. Since the weekend, a heat wave blanketed the Mid-Atlantic and Northeast but will subside by midweek. 

Gary Cunningham, director of market research at Tradition Energy, said energy demands are way "above normal" for this time of year because of increasing air-conditioning use. New England's grid operator could reach its summer peak in June instead of August, typically the hottest part of summer.

Monday's highs were 90-95 degrees in the Baltimore–Washington metropolitan area to New York City to Boston. 

Grid operator PJM Interconnection LLC, a regional transmission organization serving all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, and the District of Columbia, issued a hot weather alert Monday. PJM requested owners of transmission lines and power plants to delay maintenance. 

On-peak electricity prices for Bloomingdale, Massachusetts, energy prices per megawatt-hour spiked on Saturday, Sunday, and Monday. 

Peak energy prices for New York City also spiked. 

The heat wave is expected to dissipate by mid-week as Mid-Atlantic and Northeast temperatures will be around average or slightly below normal as a cold front rolls in through the weekend. 

 


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!