Wholesale electricity prices soared during California’s September heat wave.
Hot, hot, hot! What a way to start September, with record high temperatures across California, and what a test for the state’s electricity market. More California households have air conditioning than ever before, and it pushed electricity demand to an all-time record.
For today’s post, I want to look at what happened to wholesale electricity prices. Like many of you, I kept checking the CAISO price map throughout the heat wave, but now that temperatures – and prices – are back down, I wanted to look…