⚠️ Peak Demand Outlook for Week of July 18, 2022
This week’s heatwave could likely lead to three or four of the five peak demand days for 2022.
In the last two years, we haven’t had a peak demand day below 140,782; our current peak days year-to-date have a high of 139,307. Each of the next four days is projected to be above 141,000. This week is likely to reach multiple peak demand days chosen for this year.
TPI Efficiency urges you to consider reducing consumption during the forecasted peak timeframe. We continue to monitor the rest of the week as well for the possibility of additional peak demand days.
If your operations are flexible, we encourage you to monitor the PJM website throughout the day tomorrow via the resource link below to aid your business decision.
PJM PLC Peak Outlook Forecast for Week of July 18, 2022:
Mon, Jul 18, 2022 04:00 pm – 05:00 pm
Peak Demand Forcast:
132,911
Tue, Jul 19, 2022 05:00 pm – 06:00 pm
Peak Demand Forcast:
141,797
Wed, Jul 20, 2022 05:00 pm – 06:00 pm
Peak Demand Forcast:
148,982
Thu, Jul 21, 2022 04:00 pm – 05:00 pm
Peak Demand Forcast:
147,124
Fri, Jul 22, 2022 04:00 pm – 05:00 pm
Peak Demand Forcast: 145,729
We recommend reducing your electricity consumption during the forecasted peak.
Remember: Capacity makes up ~30% of your total supply cost per kWh. Your future capacity tags and cost could be impacted!
What is a coincident peak day?
One of the five highest-demand days (during the summer months) when PJM chooses to measure the peak demand—typically during the hour of the day with the highest demand.
Your average usage/demand during the five peak hours of the summer (measured by PJM on the five coincident peak days) determines what your capacity obligation (i.e. “capacity tag”) will be for the following year—and impacts your overall energy costs.
What can you do?
Having this information and reacting to it may help lower your business’ capacity obligation for next year. By making an effort to reduce your consumption on those days, you can potentially mitigate some of the impacts of high real-time and day-ahead prices.
