Spot wholesale electricity rose on the 13-state mid-Atlantic grid as demand increased and temperatures fell.
Power consumption on PJM Interconnection LLC’s network, which runs from Washington to Chicago, was 85,975 megawatts at 2 p.m. East Coast time, up from 85,821 megawatts at the same time yesterday, grid data compiled by Bloomberg show.
Spot prices at PJM’s benchmark Western hub gained $7.08, or 14 percent, to $58.28 a megawatt-hour in the hour ended 2 p.m. from the same time yesterday, grid data compiled by Bloomberg show. Power at the Eastern hub, which includes New Jersey, rose $9.60, or 19 percent, to $60.74.
PJM West on-peak power traded $1.50 below the Eastern hub, compared with 5 cents lower yesterday and a three-month average discount of $13.99 for the Western hub.
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