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California urges power cuts as demand heads toward record

(Reuters) -California's grid operator projected record-breaking power demand on Tuesday and called on consumers to conserve energy for the seventh consecutive day to avoid...
California urges power cuts as demand heads toward record © Reuters. FILE PHOTO: Power lines are shown as California consumers prepare for more possible outages following weekend outages to reduce system strain during a brutal heat wave amid the outbreak of coronavirus disease (COVID-19) in Carlsbad, California, U.S., Augu

(Reuters) -California's grid operator projected record-breaking power demand on Tuesday and called on consumers to conserve energy for the seventh consecutive day to avoid blackouts amid soaring temperatures.

The California Independent System Operator (ISO) urged residents to cut power use in the late afternoon and early evening as the sun sets and the state's vast supply of solar-generated electricity recedes.

California's week-long run of record-breaking temperatures is projected to continue this week with highs reaching into the 110s Fahrenheit (mid 40s Celsius) in interior parts of the state, according to the National Weather Service.

The ISO forecast demand would peak at 51,590 megawatts (MW) on Tuesday, topping the current record of 50,270 MW in 2006, before sliding to 49,868 MW on Wednesday.

Late on Tuesday morning, solar was supplying about a third of the state's power demand.

"We need a reduction in energy use that is two or three times greater than what we've seen so far as this historic heat wave continues to intensify," Elliot Mainzer, CEO of the ISO, said in a statement.

If demand for power exhausts the grid's electric reserves, the ISO said it would instruct utilities to start imposing rotating outages. It would be the first time the state has taken such a measure since a brutal heat wave in August 2020 forced power cuts over two days to around 800,000 homes and businesses.

U.S. power prices in California and other western states for Tuesday soared to their highest since that 2020 heat wave.

Power prices at the Palo Verde hub in Arizona and SP-15 in Southern California rose to $850 and $505 per megawatt hour, respectively. That was their highest since hitting record highs of $1,311 in Palo Verde and $698 in SP-15 in August 2020 when the ISO last imposed rotating outages.

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01-05-2024 10:45:17 (UTC+7)

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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SJC Eximbank8,300/ 8,500
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SJC 1L, 10L, 1KG8,300/ 8,520
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Cập nhật 01-05-2024 10:45:19
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KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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