US wholesale power prices reach record highs in winter storm, retail electricity outages continue

Several wholesale power trading hubs hit record high prices Jan. 27 as retail power outages across the US hovered around 550,000 customers and crews worked to restore power in freezing conditions. Power prices across much of the US remain elevated as freezing temperatures continue to drive up heating demand and weather-related alerts remain active for many grid operators. The majority of the PJMSeveral wholesale power trading hubs hit record high prices Jan. 27 as retail power outages across the US hovered around 550,000 customers and crews worked to restore power in freezing conditions. Power prices across much of the US remain elevated as freezing temperatures continue to drive up heating demand and weather-related alerts remain active for many grid operators. The majority of the PJMRead More