Heat Wave Sends New York City Lunchtime Power to Two-Month High

(Bloomberg) -- New York City just experienced the highest midday electricity prices in two months after residents put air conditioners and fans on full blast to cope with hot weather.

Spot power climbed 38 percent to $72.28 a megawatt-hour between 11 a.m. and noon local time, and 87 percent higher than Friday. Today’s price was the highest average for that time of day since April 27, according to Genscape Inc. data compiled by Bloomberg. New York City’s load during that time was 10,154 megawatts, 18 percent higher than Sunday and the most since July 20, 2017.

Temperatures peaked at 95 degrees Fahrenheit (35 Celsius) at midday, just below the 100-degree record set in 1966, according to AccuWeather.

To contact the reporter on this story: Tim Loh in New York at tloh16@bloomberg.net

To contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Steve Stroth

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