July 18, 2013

Electricity Prices Soar Past $200 per Megawatt-hour as Heatwave Hits Eastern United States

From the Energy Collective:

With a heatwave settling across the northeastern and midwestern United States, electricity systems across some of the nation's most densely populated areas strained to meet peak demands today, sending power prices spiking.

Wholesale electricity prices briefly touched as high as $230 per megawatt-hour in New England at about 2:30pm this afternoon as temperatures hit 95 in Boston and the humidity pushed the "real feel" index towards 100 degrees.