Power Prices Top $1,000 on PJM as Heat Collides With Fall Plant Maintenance
An unseasonable heat blast across the Midwest and Mid-Atlantic has landed in the middle of PJM Interconnection’s fall maintenance season, and the grid that serves 67 million people is running thin. PJM issued a Maximum Generation Alert for Tuesday and kept a capacity advisory in place through Wednesday, with roughly 62,000 megawatts of generation offline for planned work. Bloomberg reported that spot power at PJM’s Western hub hit $1,021 per megawatt-hour Tuesday afternoon, more than double the day-ahead average for that hour. Day-ahead…