Forecasters Are Predicting A Peak Demand Alert Across Grid This Afternoon!
Based on current PJM load and weather forecasts, an annual peak day between 5 pm and 6 pm EDT could be established this afternoon.
According to PJM, demand is forecasted to reach 139,560 MW. This number is among the highest predicted demand loads this year!
⚠️ TODAY WILL LIKELY BE A PEAK DEMAND DAY! ⚠️
TPI Efficiency asks you to consider reducing your consumption during the forecasted peak timeframe. We will continue to monitor the PJM network for system peaks tomorrow, with even higher temperatures predicted to drive demand higher.
If your operations are flexible, we encourage you to monitor the PJM website today to aid your business decision.
We recommend reducing your electricity consumption during the forecasted peak.
Capacity makes up ~30% of your total supply cost per kWh. Your future capacity tags and cost could be impacted!
Today:
The PJM interconnection grid network is projecting that the hot weather will lead to today (Monday) being the highest of the five days, affecting capacity costs for next year. We recommend curtailing your load from 3:30 pm to 6:00 pm (EPT) to the extent your operations allow.
As of Monday, forecasters predict Thursday could also see a peak demand day.
Forecast Peak Usage For The Week:
Monday, August 21, 2023
The expected timeframe for peak usage: 5:00 pm – 6:00 pm
Potential Peak Demand: 139,560 MW
Thursday, August 24, 2023
The expected timeframe for peak usage: 5:00 pm – 6:00 pm
Likely Peak Demand: 132,182 MW
What You Need To Know
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.
