3 min read

No News is Good News

By 5 on August 27, 2020

Sometimes, no news is good news. Figure 1 shows how calendar year wholesale electricity has traded for 2021 through 2024 in the eastern part of PJM over the last two years. And while this chart seems to show a significant amount of volatility, consider the scale of the y-axis when assessing market movements.

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Topics: Markets PJM
2 min read

How Not to Buy in PJM and NYISO

By 5 on August 27, 2020

The coronavirus has not only significantly reduced electricity usage and peak demand across the NYISO and PJM regions, it has also dramatically changed how retail electricity suppliers approach fixed price electricity offers to clients. In order for suppliers to generate fixed price offers, they first gather and review the previous 12 months of historic usage data, including the volume of electricity consumed (MWhs) and the peak demand (MWs).

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Topics: Markets PJM NYISO
1 min read

Coincident Peak Alert for PJM, August 25 - 27, 2020

By 5 on August 25, 2020

Today (8/25) and Thursday (8/27) temperatures are expected to exceed 90° throughout the Mid-Atlantic region. There is a risk that a new Coincident Peak (CP) is set sometime this week. To do this, the electricity demand in PJM will need to exceed 141,865 MWs. Forecasters expect that today’s load will peak at 143,832 MWs by 5:00 pm. And on Thursday afternoon, the system-wide electric load could set the new peak demand day for 2020.

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Topics: Markets PJM
1 min read

Coincident Peak Alert for NYISO and PJM, August 10, 2020

By 5 on August 10, 2020

PJM:

Temperatures throughout the northeastern U.S. are expected to approach or exceed 90°F this afternoon, driving electric demand close to 2020 summer highs.

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Topics: Markets PJM NYISO
3 min read

PJM East and West United in Historic Lows

By 5 on July 30, 2020

One might expect significant variations in price movements in an electricity market that spans half the continental United States, from Chicago to New Jersey. However, there is a remarkable degree of consistency in spot (index) prices and in the forward electricity curves across the PJM Interconnection (PJM). 

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Topics: Markets PJM
2 min read

Coincident Peak Alert for NYISO and PJM, July 27-31, 2020

By 5 on July 27, 2020

NYISO:

Temperatures in New York City are expected to remain in the mid-90s throughout Monday. Even though precipitation is likely in the 7-10 day range, it is expected that Monday (7/27) will approach the year-to-date system peak of 29,979 MW which was set last Monday (7/20).

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Topics: Markets PJM NYISO
2 min read

Coincident Peak Alert for ERCOT, NYISO and PJM, July 20 - 24, 2020

By 5 on July 20, 2020

High pressure system has settled over the Midwest and Mid-Atlantic that will keep temperature elevated today and tomorrow. These high temperatures will result in PJM and NYISO electric grids being pushed to the max. In NYISO, peak load of more than 29,933 MW is expected beginning 4:00 PM today. Between 3-5 PM, load is forecast at or above 29,700 MW, vs the current 2020 peak of 28,867 MW.

It’s important to note that load this morning is coming in ~600 MW higher than yesterday’s projections, which reflects how warm it is in the New York region today. Temperatures in New York City are expected to exceed 95 degrees. 

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Topics: Markets PJM NYISO ERCOT
1 min read

Coincident Peak Alert for NYISO, PJM, and ERCOT, July 2 - 13, 2020

By 5 on July 2, 2020

It appears the fireworks have come early this year as several markets are facing medium to high threats for Coincident Peaks (“CPs”) today and into the early part of next week.

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Topics: Markets PJM NYISO ERCOT
1 min read

Coincident Peak Alert, PJM and ERCOT, June 29 – July 3, 2020

By 5 on June 29, 2020

With temperatures climbing nationwide, we are predicting some Coincident Peak (“CP”) alert activity this week. For clients looking to save on next year’s Transmission costs and Capacity costs (PJM market only), it will be important to monitor the situation (especially real-time weather conditions) and reduce energy consumption in the late afternoon hours, to the extent possible.

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Topics: Markets PJM ERCOT
2 min read

Demand Destruction in PJM

By 5 on June 24, 2020

PJM released its initial report on electric load reduction as a result of COVID-19. Figure 1 shows the decrease in peak demand (blue bar) and overall electricity usage (green bar) through the middle of May, with weekends shaded in gray. On average, the weekday peak demand (in kW or MW) fell between 6.5% to 15.2%. Overall energy usage (in kWh or MWh) was not as significantly affected and was down by approximately 8% since March 24th. Not surprisingly, the weekends experienced the smallest reduction to demand and consumption.

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Topics: Markets PJM