(Bloomberg) -- New England’s electric grid operator declared a level 1 emergency in a bid to shore up supplies.
The grid faced an unexpected loss of power generation close to the evening demand peak, so operators are tapping reserves, Matt Kakley, spokesman for ISO New England Inc., said in an email.
Level 1 grid emergencies indicate that more power supplies are needed, but blackouts are not imminent.
Spot power prices briefly jumped to $1,931 per megawatt-hour, after trading in the $60-$100 range for most of the afternoon.
- Power demand was 22,908 gigawatts at 5:29pm local time, coming in slightly above forecast for the time, grid data show.
- Oil generators were producing 4% of six-state grid’s power supply at the time, after operating around minimal levels for much of the afternoon.
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