YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

NYC electricity prices spike 1,000%

Posted online
A heat wave and thunderstorms Monday caused wholesale electricity prices in New York City to spike 1,000 percent.

The per-megawatt-hour price rose from under $50 to more than $1,042, according to Bloomberg Business.

The sharp increase was caused by concern that storms would create a grid outage, leaving New York’s electrical system unable to power air conditioners expected to remain on through the end of the city’s heat wave on Thursday.

Grid operator New York ISO said Monday’s spike was unlikely to affect billing, but utility provider Con Edison has asked customers to conserve energy and lessen demand on the city’s transmission lines.

Read more from Bloomberg Business.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
Open for Business: Mercy Clinic Family Medicine – South Creek

Mercy Springfield Communities relocated a clinic; San Clemente, California-based law firm Gilson Daub Inc. expanded to the Springfield market; and a second video gaming center for Contender eSports Springfield LLC opened in the Queen City.

Most Read
Update cookies preferences