(Reuters) – The largest U.S. electric grid on Thursday operated near record levels for demand amid frigid temperatures as weather forecasters predicted another Arctic blast over the weekend.
The PJM Interconnection, which manages the flow of electricity for 67 million people in 13 Midwest and Mid-Atlantic states and Washington, D.C., reported electric demand at about 140 gigawatts in the morning hours. The grid’s all-time winter record for demand is 143.7 GW, set in January 2025.
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Earlier in the week, PJM said that record would be smashed on Friday, predicting 148 GW of demand. PJM now says Friday will not be a record-setting day, with a demand forecast of about 142 GW.
PJM and electric grids in New York and New England have had to navigate congested high-voltage lines throughout their territories. Temperatures hovering above 0 degrees Fahrenheit (-18 Celsius) this week have caused power line overloads from a surge in electricity demand.
Meanwhile, power plant outages in PJM’s territory surged to more than 20 GW earlier this week as cold disrupted gas-fired turbines and boiler equipment at coal-fired generators.
PJM forecasts lower outages for Friday, however, at about 15 gigawatts, or about 8% of the grid’s 180.8 GW of operational capacity.
On Thursday afternoon, PJM spot wholesale electricity prices were about $150 per MWh, far below brief peaks that soared above $3,000 per MWh earlier in the week. Prices calmed down as temperatures warmed slightly and gas supplies became less constricted for power generators.
“In the event of another significant storm with severe cold, it remains possible that prices could spike once again,” said Matthew Palmer, head of Americas gas research at S&P Global Energy. “However, the closer we get to March and the end of the traditional winter heating season this is less likely.”
Reporting By Tim McLaughlin; Editing by David Gregorio
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