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US Power Update: PJM Power Prices Surge to $930/MWh as 4 US Markets Top $100

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US wholesale electricity markets saw intraday price spikes Thursday, with four markets topping $100 per megawatt-hour as PJM Interconnection prices surged to $930.68/MWh, according to data from GridStatus.io.

Electric Reliability Council of Texas' real-time locational marginal price was $63.74/MWh at 4 p.m. ET. Net load reached 55.66 gigawatts, with natural gas accounting for the largest share of the generation mix at 46.1%. Prices climbed to an intraday high of $153.85/MWh at 8:10 a.m. ET.

California Independent System Operator's real-time LMP was $49.33/MWh at 4 p.m. ET. Net load came in at 13.91 GW, while solar held the largest share of the generation mix at 50.5%.

Southwest Power Pool's real-time LMP came to $37.37/MWh at 4 p.m. ET. Net load totaled 49.62 GW, with natural gas accounting for the largest share of the generation mix at 49.6%. Prices reached an intraday high of $119.01/MWh at 11:45 a.m. ET.

PJM Interconnection's real-time LMP was $47.09/MWh at 4 p.m. ET. Net load stood at 110.7 GW, while gas represented the largest share of the generation mix at 44.7%. Prices rose to an intraday high of $930.68/MWh at 12:55 p.m. ET.

Midcontinent Independent System Operator's real-time LMP stood at $33.01/MWh at 4 p.m. ET. Net load reached 80.56 GW, with coal making up the largest share of the generation mix at 31%. Prices hit an intraday high of $180.49/MWh at 2:40 p.m. ET.

New York Independent System Operator's real-time LMP came in at $33.44/MWh at 4 p.m. ET. Net load was 20.02 GW, while dual fuel supplied the largest share of the generation mix at 31.4%.

ISO New England's real-time LMP was $43.44/MWh at 4 p.m. ET. Net load totaled 14.53 GW, with natural gas holding the largest share of the generation mix at 52%.

Independent Electricity System Operator's real-time LMP was $33.29/MWh at 4 p.m. ET. Net load reached 18.12 GW at 3:55 p.m. ET, with nuclear accounting for the largest share of the generation mix at 38%.

The National Weather Service's Climate Prediction Center forecasts temperatures to stay above normal across much of the central and eastern US from Sep. 3 to Sep. 9, with below-normal and near-normal readings across much of the West.

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