Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

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.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Mid-Atlantic Power Drops as Demand Matches Forecasts

July 17 (Bloomberg) -- Spot electricity prices in the mid-Atlantic region dropped as demand in the 13-state PJM Interconnection LLC network missed forecasts.

Power consumption averaged 106,824 megawatts for the hour ended at 3 p.m., lagging behind the day-ahead projections for the hour ended at 3:30 p.m. by 2,765 megawatts, according to data compiled by Bloomberg.

The high temperature in Washington today probably reached 82 degrees Fahrenheit (28 Celsius), 7 below normal, according to AccuWeather Inc. of State College, Pennsylvania. Chicago’s maximum reading may reach 73 degrees, 11 below usual.

In PJM’s Eastern hub, which includes New Jersey, eastern Pennsylvania, Maryland and Virginia, power fell $10.90, or 14 percent, to average $69.36 a megawatt-hour in the hour ended at 3 p.m. from the same time yesterday, grid data compiled by Bloomberg show. In the Western hub, which includes prices from Washington to Erie, Pennsylvania, power slipped $1.38 to average $33.74 a megawatt-hour.

Power prices in the Electric Reliability Council of Texas Inc. market, which spans the majority of the state, fell as demand came in below forecasts.

In Ercot’s North hub, which includes Dallas and Fort Worth, power dropped $10.94, or 28 percent, to average $28.12 a megawatt-hour at 2 p.m. local time.

To contact the reporter on this story: Jonathan N. Crawford in New York at jcrawford47@bloomberg.net

To contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net Bill Banker, Richard Stubbe

Please upgrade your Browser

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

Chrome, Firefox, Safari, Opera or Internet Explorer.