• 6 minutes Will the trade war hurt US project builds? Not if the US does it right.
  • 12 minutes OIl Targets from Experts to $300, vs. imho $52
  • 19 minutes Venezuela, the largest oil reserve in the world, faces deep shortages of motor oil
  • 7 hours Does S Arabia Have 2 Mln Barrels in Spare Capacity?
  • 2 days Apple's $300 fund in China
  • 6 mins Trade War of 1930s, Extended the Great Depression
  • 2 days Ireland Exits Fossil Fuels
  • 6 hours Oil prices going down
  • 21 hours Britain should bet more on renewables and less on nuclear
  • 3 days Top Adviser to Khamenei: Iran Will Leave Syria, Iraq Only if Baghdad, Damascus Want It
  • 3 days Michiganders, Rejoice: Musk Will Fix Flint
  • 2 days Russia & China bypassing Oil Sanctions to North Korea, U.S. Peeved
  • 11 hours Tesla Shareholders Finally Fed Up? Could it be true?
  • 3 days Trump Threatens Sanctions against Shell, Uniper
  • 3 days Consumer prices on rise
  • 2 days What can bring oil prices down?
Housing Prices Soar As Oil Boom Escalates

Housing Prices Soar As Oil Boom Escalates

Though the economy is booming,…

Chinese Oil Demand Growth Could Slow Down Soon

Chinese Oil Demand Growth Could Slow Down Soon

A new taxation regime and…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

Northeast Heat Wave Causes U.S. Electricity Use To Soar

NYC

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 through the heat wave but we will continue to closely monitor regional electricity supplies,” Marcia Blomberg, a spokeswoman at ISO New England, which operates the grid for the six New England states, told Reuters on Tuesday.

PJM Interconnection forecast peak electricity usage in the PJM region at 148,542 MW at 4 p.m. eastern time on Tuesday, while available economic capacity was 165,643 MW.

Related: The New Oil Cartel Threatening OPEC

ISO New England said peak demand on Monday was 23,201 MW, while peak demand for Tuesday was expected at 24,250 MW, compared to 28,212 MW available capacity to meet peak demand.

Power demand was expected to be lower on July 4 due to many businesses closing for the Independence Day holiday, but the high humidity still in place was not expected to bring much relief, according to meteorologists.

Heat advisories for July 4—and for the rest of the week—spanned from New York City and surrounding areas to Pennsylvania, Ohio, Indiana, Kentucky, Illinois, Michigan, Iowa, and Missouri.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News