Extreme Heat Lifts US Power Prices on Thursday as Operators Brace for Record Demand Amid Heat Dome

() -- Electricity prices across major US wholesale markets climbed by midday Thursday as extreme heat drove electricity demand higher across several regional grids. The PJM Interconnection's real-time locational marginal price stood at $586.33 per megawatt-hour as of 2:45 p.m. ET on Thursday, while the day-ahead price is $370.91/MWh. Day-ahead LMP prices are expected to peak at $1,219/MWh at 7 p.m. ET. PJM's generation mix was dominated by natural gas at 69.54 gigawatts, accounting for 45.2% of total generation, followed by nuclear at 31.99 GW or 20.8%, coal at 29.68 GW or 19.3%, and solar at 13.15 GW, representing 8.5%. Wind, oil, hydro and other sources supplied the remainder. The New York Independent System Operator logged real-time LMP prices at $359.27/MWh as of 2:30 p.m. ET, while day-ahead prices were at $450.2/MWh. Day-ahead prices are expected to peak at about 6 p.m. ET at $808.21/MWh. Dual-fuel generation led the New York Independent System Operator's fuel mix at 10.13 GW, accounting for 38.9% of total generation, followed by natural gas at 6.04 GW or 23.2%, hydro at 3.69 GW or 14.2%, and nuclear at 3.25 GW, representing 12.5%. Wind and other sources supplied the.