A Thunderstorm Just Drove New York Power Prices Above $1,000
- City in midst of heat wave expected to last through Thursday
- Local power demand climbing to power air conditioners
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The first clouds of a thunderstorm had yet to darken the skies above New York and it was already wreaking havoc on the city’s wholesale power prices Monday.
Spot electricity catapulted to $1,042.37 a megawatt-hour at 3:25 p.m., from less than $50 earlier in the day. The agency that oversees New York’s power system issued an alert in advance of the storm that cut the amount of electricity allowed to be carried across transmission lines feeding the city, energy data provider Genscape Inc. said.