The sweltering temperatures that have gripped much of the United States this week have led to a surge in electricity demand, particularly in the New England region.
New England’s Peak Demand Nears Record Levels
Within the territory of New England’s Independent System Operator (ISO-NE), the electric grid experienced a peak demand of 23,324 megawatts (MW) on the evening of June 20th. This figure nearly matches the highest hourly demand recorded in the region last year.
Notably, the June 20th peak, occurring around 7:00 p.m. eastern time, surpassed the previous day’s peak of 22,803 MW by 521 MW. ISO-NE anticipates a decrease in demand over the weekend and into the following week as temperatures moderate.
Exceeding Forecasts and Increased Natural Gas Consumption
While the peak demand in New England fell slightly short of the 24,553 MW forecast in ISO-NE’s summer assessment, it still represents a significant increase compared to the 2023 peak of 24,043 MW.
To meet this heightened demand, utilities in the region have ramped up their consumption of natural gas, with figures reaching nearly 2.0 billion cubic feet (Bcf) on both June 19th and 20th.
Widespread Surge in Electricity Demand
The increased electricity demand is not limited to New England. Other regions, such as the PJM Interconnection, which serves a vast area from New Jersey to Illinois, also witnessed peak demand of 145,892 MW on June 20th, similar to the previous day’s level. This surge in demand is attributed to the widespread heatwave affecting much of the country.
Monitoring Electricity Market Data
The U.S. Energy Information Administration (EIA) provides comprehensive hourly electricity market data through its Wholesale Electricity Market Portal. This valuable resource allows users to analyze and access electricity market data for the seven Regional Transmission Organizations (RTOs) and Independent System Operators (ISOs).
The portal offers insights into power generation types, regional temperatures, and wholesale pricing. Additionally, the EIA’s New England Dashboard provides information on the region’s natural gas and petroleum markets, offering a comprehensive overview of the energy landscape.