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ERCOT forecast to hit July peakload record Thursday and Friday

Houston (Platts)--19 Jul 2017 519 pm EDT/2119 GMT


The Electric Reliability Council of Texas could see power demand top 68 GW Thursday and Friday, setting new highs for July as heat is forecast to build across ERCOT through Friday.

The grid operator projected peakload to reach 68.6 GW Thursday and 68.1 GW Friday, both for the hour ending 5 pm CDT (2200 GMT), topping the current all-time high for July at 67.7 GW set in July 2015 and nearing the forecast peakload of 68.7 GW for July.

In the day-ahead market, ERCOT North Hub on-peak physical power was little changed in the low $40s/MWh for Thursday delivery on Intercontinental Exchange, while balance-of-the-week on-peak was slightly lower in the high $30s/MWh.

CustomWeather forecast high temperatures in Dallas to reach 98 degrees Thursday and 99 degrees Friday, while the seasonal norms were at 97 degrees.

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The National Weather Service issued hazardous weather outlooks Wednesday for North and Central Texas, noting "heat index values will climb to near 105 degrees this afternoon and are expected to climb to 100 to 108 degrees each afternoon Thursday through Monday."

Load projections also forecast peakload to reach 67.6 GW Wednesday, slightly above the peakload for last July at around 67.5 GW, but below the load of 67.7 GW on June 23, the highest so far this year.

ERCOT expected summer peakload to top 72.9 GW in August, above the all-time high of 71.1 GW set in August 2016.

The ISO has set record monthly peakload four times so far this year, including January, April, May and June.

--Jeff Zhou, jeff.zhou@spglobal.com

--Edited by Annie Siebert, ann.siebert@spglobal.com



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