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Reuters
U.S. power prices rose to their highest in months in a couple of markets as homes and businesses cranked up their air conditioners to escape a brutal heatwave blanketing much of the country this week, stressing electric grids.
Extreme weather reminds consumers of the fatal freeze in February 2021 that left millions of Texans without power, water and heat for days and a brutal heatwave in August 2020 that forced the California grid operator to impose rotating outages for a couple of day that affected around 800,000 customers.
In the spot market, next-day power for Thursday jumped to their highest since December 2022 at the Palo Verde hub in Arizona and the highest since February at the PJM Western Hub , which covers an area from northwestern Pennsylvania to Washington, D.C.
AccuWeather meteorologists forecast temperatures would reach the 90s Fahrenheit (35 Celsius) in New York, Los Angeles, Chicago and Houston over the next few days and over 110 F in Phoenix…
