US electric grids brace for scorching heat as energy prices surge

AI generated summary

As a dangerous heat wave sweeps across the eastern United States, grid operators have instructed power plants to maximize output due to skyrocketing wholesale electricity prices. The surge in demand for energy-intensive air conditioning has raised concerns about potential power outages, especially as real-time prices in major metropolitan areas have spiked significantly. For instance, in Boston, prices soared to over $400 per megawatt hour (MWh), a stark increase from earlier in the day when they were below $50 per MWh.

In New York City, Con Edison reported thousands of customers without power amid the extreme heat, with temperatures expected to break historical records. The New York ISO noted that wholesale electricity prices exceeded $600 per MWh in the city zone. Meanwhile, PJM Interconnection, which serves a large portion of the U.S., anticipates high power demand throughout the week, prompting alerts for generators to prepare for maximum output. The situation highlights the strain on energy supplies as demand surges during the heat wave.