Midwestern Power Gains as Lower Temperatures Boost Demand

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.

The high temperature in Chicago today was projected to be 49 degrees Fahrenheit (9 Celsius), down from 78 degrees yesterday, according to AccuWeather Inc. in State College, Pennsylvania.

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.

To contact the reporter on this story: Mario Parker in Chicago at mparker22@bloomberg.net

To contact the editors responsible for this story: Bill Banker at bbanker@bloomberg.net Richard Stubbe

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.