PJM has issued another hot weather alert today across the region. Temperatures are likely to exceed 90°F with high humidity causing a steady rise in electricity demand. The five Coincident Peak (CP) demand days for 2020 in PJM are shown below in Figure 1. There is a strong risk that a new CP is set this afternoon as forecasters expect that today’s load will surpass 144,000 MWs by 5:00 PM EST.
Figure 1: Current 2020 Peak Demand (5CP) Intervals, from 5
Figure 2 shows today’s forecast (yellow line) and actual demand (red line) as compared to the highest demand day (green line) which occurred on July 20th:
Figure 2: PJM - Forecast and Actual MW, from 5
We advise clients to curtail electricity usage this afternoon between 3:00 and 6:00 PM EST. Remember that every kilowatt in reduced demand during these peak hours this summer can lower your capacity cost, and possibly transmission costs, next year.
Reach out to your energy advisor or contact us for more details.