New York Electricity Prices Soar Above $1,100/MWh as Extreme Heat Hits US East Coast on July 1

As extreme heat threatens US power grids, electricity prices in New York have soared above $1,100 per megawatt-hour as of July 1 afternoon, with further increases expected in the evening. Prices across the region from New York to Virginia are surging, reaching the highest levels since January's historic winter storm, according to PJM Interconnection, the largest US grid operator covering the affected area.
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