PJM Declares Grid Emergency With 60 Gigawatts Offline

PJM Interconnection declared a low-level emergency for Tuesday and Wednesday as warm weather coincided with scheduled plant maintenance, with 60 gigawatts of generating capacity remaining offline. The conditions pushed spot prices at its Western hub above $1,000 per megawatt-hour Tuesday afternoon. The spot price reached $1,021 per megawatt-hour, more than twice the day-ahead average for that hour. Wednesday’s day-ahead price increased 28% to $295.83 per megawatt-hour, its highest daily average since mid-July. PJM’s grid serves 67 million people across an area stretching from the Mid-Atlantic to Chicago.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.