Based on current PJM load and weather forecasts, an annual peak day between 4 PM and 7 PM EDT could be established this afternoon.
According to PJM, demand is forecasted to reach 153,286 MW. This number is among the highest predicted demand loads this year!
TPI Efficiency asks you to consider reducing your consumption during the forecasted peak timeframe. We will continue monitoring the PJM network for system peaks tomorrow and the rest of this week.
If your operations are flexible, we encourage you to monitor the PJM website tomorrow to aid your business decision.
The Rest of The Week:
The PJM interconnection grid network is projecting that the hot weather this week will lead to the potential for Thursday and Friday being two of the five days that will affect capacity costs for next year.
Forecast Peak Usage This Week:
- Thu, Jul 27, 2023
The expected timeframe for peak usage:5:00 pm – 6:00 pm EST
Potential Peak Demand: 153,286 MW - Fri, Jul 28, 2023
The expected timeframe for peak usage: 4:00 pm – 5:00 pm
Potential Peak Demand: 147,905 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. Reducing your consumption on those days can mitigate some of the impacts of high real-time and day-ahead prices.
