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Business Times
9 hours ago
- Business
- Business Times
Intense heat to push biggest US grid's power use to 12-year high
[NEW YORK] Electricity use on the biggest US grid, which serves nearly a fifth of Americans from Washington DC to Illinois, is expected to climb to a 12-year high as intense heat spurs air conditioning needs. A heat wave will start baking the mid-Atlantic on Saturday (Jun 21) with temperatures climbing to 38 deg C in Washington on Monday, 13 degrees above average, according to Households and businesses relying on the grid managed by PJM Interconnection may use as much as 158.5 gigawatts at about 5.00 pm ET, according to the system operator. That would make it the highest hourly peak demand since July 2013 and is above this summer's anticipated high, PJM data show. The all-time high for electricity demand was set in 2006, at nearly 165.6 gigawatts. PJM's demand growth is rebounding after languishing for the better part of a decade, as new data centres cropped up in Northern Virginia and spread across the grid. More efficient appliances and light bulbs had halted growth for years. Consumer costs are starting to climb as well, especially after an auction last year to procure supplies rose to a record high for a 12-month period that started Jun 1. Power prices for Monday soared to an average at US$200 a megawatt-hour in exchange-traded contracts, a roughly five-fold increase from Friday's day-ahead price, said Gary Cunningham, director of market research at Tradition Energy. 'The swath of heat stretching from the central plains to the big apple will bring near-record heat to many metropolitan areas, but is happening early enough in the year that power demands should fall shy of records in most areas,' he said. The East Coast areas relying on PJM will endure much higher and more volatile prices than parts of the Midwest, he said. BLOOMBERG
Los Angeles Times
10 hours ago
- Business
- Los Angeles Times
Intense heat to push biggest U.S. grid's power use to 12-year high
Electricity use on the biggest US grid, which serves nearly a fifth of Americans from Washington DC to Illinois, is expected to climb to a 12-year high as intense heat spurs air conditioning needs. A heat wave will start baking the mid-Atlantic on Saturday with temperatures climbing to 100 F (38 C) in Washington on Monday, 13 degrees above average, according to Households and businesses relying on the grid managed by PJM Interconnection LLC may use as much as 158.5 gigawatts at about 5 p.m. ET, according to the system operator. That would make it the highest hourly peak demand since July 2013 and is above this summer's anticipated high, PJM data show. The all-time high for electricity demand was set in 2006, at nearly 165.6 gigawatts. PJM's demand growth is rebounding after languishing for the better part of a decade, as new data centers cropped up in Northern Virginia and spread across the grid. More efficient appliances and light bulbs had halted growth for years. Consumer costs are starting to climb as well, especially after an auction last year to procure supplies rose to a record high for a 12-month period that started June 1. Power prices for Monday soared to average at $200 a megawatt-hour in exchange-traded contracts, a roughly five-fold increase from Friday's day—ahead price, said Gary Cunningham, director of market research at Tradition Energy. 'The swath of heat stretching from the central plains to the big apple will bring near record heat to many metropolitan areas, but is happening early enough in the year that power demands should fall shy of records in most areas,' he said. The East Coast areas relying on PJM will endure much higher and more volatile prices than parts of the Midwest, he said. Malik writes for Bloomberg.
Yahoo
12 hours ago
- Business
- Yahoo
Intense heat to push biggest US grid's power use to 12-year high
(Bloomberg) — Electricity use on the biggest US grid, which serves nearly a fifth of Americans from Washington DC to Illinois, is expected to climb to a 12-year high as intense heat spurs air conditioning needs. Security Concerns Hit Some of the World's 'Most Livable Cities' One Architect's Quest to Save Mumbai's Heritage From Disappearing JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads NYC Congestion Toll Cuts Manhattan Gridlock by 25%, RPA Reports Taser-Maker Axon Triggers a NIMBY Backlash in its Hometown A heat wave will start baking the mid-Atlantic on Saturday with temperatures climbing to 100 F (38 C) in Washington on Monday, 13 degrees above average, according to Households and businesses relying on the grid managed by PJM Interconnection LLC may use as much as 158.5 gigawatts at about 5 p.m. ET, according to the system operator. That would make it the highest hourly peak demand since July 2013 and is above this summer's anticipated high, PJM data show. The all-time high for electricity demand was set in 2006, at nearly 165.6 gigawatts. PJM's demand growth is rebounding after languishing for the better part of a decade, as new data centers cropped up in Northern Virginia and spread across the grid. More efficient appliances and light bulbs had halted growth for years. Consumer costs are starting to climb as well, especially after an auction last year to procure supplies rose to a record high for a 12-month period that started June 1. Power prices for Monday soared to average at $200 a megawatt-hour in exchange-traded contracts, a roughly five-fold increase from Friday's day—ahead price, said Gary Cunningham, director of market research at Tradition Energy. 'The swath of heat stretching from the central plains to the big apple will bring near record heat to many metropolitan areas, but is happening early enough in the year that power demands should fall shy of records in most areas,' he said. The East Coast areas relying on PJM will endure much higher and more volatile prices than parts of the Midwest, he said. Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? The US Has More Copper Than China But No Way to Refine All of It Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P.
Mint
12 hours ago
- Business
- Mint
Intense Heat to Push Biggest US Grid's Power Use to 12-Year High
Electricity use on the biggest US grid, which serves nearly a fifth of Americans from Washington DC to Illinois, is expected to climb to a 12-year high as intense heat spurs air conditioning needs. A heat wave will start baking the mid-Atlantic on Saturday with temperatures climbing to 100 F in Washington on Monday, 13 degrees above average, according to Households and businesses relying on the grid managed by PJM Interconnection LLC may use as much as 158.5 gigawatts at about 5 p.m. ET, according to the system operator. That would make it the highest hourly peak demand since July 2013 and is above this summer's anticipated high, PJM data show. The all-time high for electricity demand was set in 2006, at nearly 165.6 gigawatts. PJM's demand growth is rebounding after languishing for the better part of a decade, as new data centers cropped up in Northern Virginia and spread across the grid. More efficient appliances and light bulbs had halted growth for years. Consumer costs are starting to climb as well, especially after an auction last year to procure supplies rose to a record high for a 12-month period that started June 1. Power prices for Monday soared to average at $200 a megawatt-hour in exchange-traded contracts, a roughly five-fold increase from Friday's day—ahead price, said Gary Cunningham, director of market research at Tradition Energy. 'The swath of heat stretching from the central plains to the big apple will bring near record heat to many metropolitan areas, but is happening early enough in the year that power demands should fall shy of records in most areas,' he said. The East Coast areas relying on PJM will endure much higher and more volatile prices than parts of the Midwest, he said. This article was generated from an automated news agency feed without modifications to text.
New Straits Times
29-04-2025
- Business
- New Straits Times
Brent crude oil prices drop on demand fears
HOUSTON: Brent crude oil prices fell more than US$1 a barrel on Monday morning as economic worries from the US-China trade war were pressuring demand. Brent crude futures settled at US$65.86 a barrel, down US$1.01, or 1.51 per cent. US West Texas Intermediate crude finished at US$62.05 a barrel, down 97 US cents or 1.55 per cent. Brent futures rose marginally in the previous two sessions, but finished last Friday with a weekly loss of more than one per cent. The US-China trade war is dominating investor sentiment in moving oil prices, said analyst John Evans of brokerage PVM, superseding nuclear talks between the US and Iran and discord within the OPEC+ coalition. "This wait-and-see attitude coming out of the US-China talks is leaving a bad taste in peoples' mouths," said Gary Cunningham, director of market research for Tradition Energy. "If the talks go bad, you could see a drop in demand for oil from China." Markets have been rocked by conflicting signals from US President Donald Trump and Beijing over what progress was being made to de-escalate a trade war that could sap global growth. In the latest comment from Washington, US Treasury Secretary Scott Bessent on Sunday did not back Trump's assertion that negotiations with China were underway. Earlier, Beijing denied any talks were taking place. "A lot of the feeling in the market is how is it going to be playing out in the next 24 to 48 hours?" said Phil Flynn, senior analyst with Price Futures Group. "Are we going to be bombing Iran? Is China going to be buying more crude?" Some members of the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, are expected to suggest that the group accelerate oil output hikes for a second consecutive month when they meet on May 5. "Sentiment has turned more bearish since our forecast last month with OPEC+'s more aggressive unwind – and accompanying doubts about unity within the cartel – the key change," said BNP Paribas analyst Aldo Spanjer in a note. BNP Paribas expects Brent in the high US$60s per barrel in the second quarter of this year, the note said. Meanwhile, Iranian Foreign Minister Abbas Araqchi said he remained "extremely cautious" about the success of the negotiations, as nuclear talks between Iran and the United States in Oman continue this week. In Iran, a powerful explosion at its biggest port of Bandar Abbas has killed at least 40, with more than 1,200 people injured, state media reported on Sunday.
