Wholesale power gained from Washington to New York as unseasonably warm weather boosted demand for air conditioning.
The high temperature in Washington Friday was forecast to reach 77 degrees Fahrenheit (25 Celsius), 10 above normal, while New York’s maximum will be 70 degrees, 8 more than usual, according to AccuWeather Inc. of State College, Pennsylvania.
Demand across the 13-state mid-Atlantic grid was up 2.6 percent from a day earlier at 3 p.m., according to PJM Interconnection LLC, which manages the system. Electricity consumption in New York climbed 3.2 percent, according to the New York Independent System Operator Inc.
Spot wholesale power for PJM’s Eastern hub, which includes New Jersey, eastern Pennsylvania, Maryland and Virginia, gained $8.63, or 38 percent, to average $31.43 a megawatt-hour during the hour ended at 3 p.m. on Friday from the same time a day earlier, grid data compiled by Bloomberg showed.
Power in Manhattan and its four neighboring boroughs advanced $5.09, or 22 percent, to average $28.08 a megawatt-hour.