Aug. 12 (Bloomberg) -- Spot wholesale electricity on the Mid-Atlantic grid slumped as demand slipped below forecasts.
Consumption was 128,300 megawatts at 3 p.m., below the 129,371 megawatts estimated for the hour, PJM said on its website.
The high temperature in Washington will reach 89 degrees Fahrenheit (32 Celsius) today, down from 93 degrees on Aug. 9, according to AccuWeather Inc. in State College, Pennsylvania.
Spot on-peak power at PJM’s benchmark Western hub, which includes deliveries to Washington, tumbled 14 percent to $47.87 a megawatt-hour for the hour ended 3 p.m. from the same time on Aug. 9, grid data compiled by Bloomberg show.
Prices in New York plummeted 47 percent to $58.20 a megawatt-hour while Boston power increased 85 percent to $60.36.
The high in New York will reach 83 degrees, normal for this time of year and 2 degrees lower than on Aug. 9, according to AccuWeather.
Spot power at the northern hub of the Electric Reliability Council of Texas Inc. increased 35 percent to $57.57 a megawatt- hour at 3 p.m. local time, the data show.
Power in Northern California slipped 2.4 percent to $33.95 a megawatt-hour at 1 p.m. local time, grid data show.
Temperatures in San Francisco will climb to 67 degrees today, 1 below the normal high for this time of year, AccuWeather forecast.
--Editors: Bill Banker, Charlotte Porter