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California Power Prices Hit Two-Year High Ahead of Hot Weekend

  • Grid operator is asking consumers to cut back power use Friday
  • Western U.S. heat wave expected to extend through next week
   

Photographer: Steve Hockstein/Bloomberg

The extreme heat forecast for much of California starting this weekend has already pushed power prices to two-year highs.

Electricity for Friday delivery in Southern California almost tripled to $147 a megawatt-hour, the highest since August 2018, according to Intercontinental Exchange Inc. data.