PJM Interconnection issued a federal emergency alert on July 3, 2026. A severe heatwave and unexpected generator outages triggered the notification. The alert requires industrial and residential users with specific contracts to implement mandatory consumption cuts. PJM also warned neighboring grids of potential reductions in electricity exports.
Wholesale electricity prices surged significantly during the grid emergency. Spot prices in northern Virginia reached over $2,500 per megawatt-hour. This represents a sharp increase from the typical regional rate of $40 per megawatt-hour.
The crisis highlights the importance of large-scale power generators like Constellation Energy. These entities serve as key players in maintaining grid reliability during extreme weather events.