PJM Interconnection, the operator of the largest US electric grid serving 67 million people across 13 states, recorded near-record electricity demand of approximately 163 GW on 3 July 2026 as an extreme heat dome with heat indices exceeding 110 degrees Fahrenheit combined with sustained data centre consumption. The grid approached its 2006 all-time peak of 165.6 GW, prompting PJM to issue a maximum generation alert requesting power producers to maximise output across its Mid-Atlantic, Midwest, and Washington D.C. footprint.
Wholesale power prices on the PJM grid tripled during the event, according to reporting on the demand and supply imbalance. No specific settlement prices in dollars per megawatt-hour were reported in the available sources.
Utilities with substantial generation and transmission exposure within PJM's footprint — including Exelon (EXC), Duke Energy (DUK), American Electric Power (AEP), and Southern Company (SO) — operate assets directly subject to PJM's emergency dispatch instructions and the associated wholesale price movements.
PJM escalated emergency actions under a federal alert calling on consumers to reduce electricity consumption in order to avoid blackouts, marking one of the more severe grid stress events since the 2006 demand record. The alert placed obligations on generators and transmission owners, though consumer curtailment requests remained non-mandatory.
Sources: Oilprice, Cnbc TOP