The forecasted peak demand for today, Tuesday, July 21, 2020, is 141,853 megawatts.
Yesterday, July 20, 2020, was the highest peak demand to date for this summer at 145,372 MW!
There have been several PJM Peak Demand alerts this summer. According to NatGasWeather.com, July 2020 is on track to be the highest in cooling-demand-days in the past 40 years. Interestingly, even with this increased demand due to the heat, which usually drives up natural gas prices, the natural gas futures for August 2020 fell 4.5% yesterday to close at $1.641/MMBtu. This is the lowest closing price since June 26, 2020. Concerns regarding slow economic recovery from Covid-19 and its impact on LNG exports is driving the market. Currently, the August 2020 natural gas futures are trading at $1.672/MMBtu, which is up $0.031 cents.
Click on https://muirfieldenergy.com/energy-increase-bulletin/ for a listing of the forecasted demand, actual demand, and the rankings for the top 5 peak demands.
To learn more about how your business can save money by curtailing usage on peak demand days, please contact your Energy Consultant or call our main office at (888) 370-8898.