Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Spot Power Doubles in Mid-Atlantic as Heat Sweeps Region

Spot wholesale electricity doubled in the Mid-Atlantic and climbed in the Midwest as above-normal temperatures swept through the region.

The high temperature in Washington was projected to be 96 degrees Fahrenheit (36 Celsius), 11 above normal and the highest for the day since 1991, according to AccuWeather Inc. Chicago was projected to hit a maximum of 88 degrees, 7 above that city’s normal high.

PJM Interconnection LLC projected that electricity production in the 13-state grid would peak at 143,146 megawatts today, the most since last July.

Power prices in PJM’s Eastern hub, which includes New Jersey, eastern Pennsylvania, Maryland and Virginia, power jumped $44.27 to average $84.82 a megawatt-hour for the hour ending at 3 p.m. from the same time yesterday, according grid data compiled by Bloomberg.

In PJM’s Western hub, which extends from Washington to Erie, Pennsylvania, spot power climbed $26.64, or 50 percent, to average $79.86.

On-peak Western hub prices traded $3.62 below the Eastern hub, compared to a premium of $22.01 yesterday, and a three-month average discount for the Western hub of $3.28.

Power prices fell in Texas as the amount of wind power on the grid topped forecasts.

Wind turbines produced an average of 7,447 megawatts for the hour ending at 2 p.m. local time, surpassing the day-ahead forecast by 77 percent, or 3,237 megawatts, according to the Electric Reliability Council of Texas Inc., which manages most of the state’s power. Wind provided 9.9 percent of the electricity used in the Ercot region in 2013.

Spot power across the Ercot grid fell 48 cents, or 1 percent, to average $46.09 a megawatt-hour during the hour ended at 2 p.m. local time from the same time yesterday.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.