00:00It's Benzinga, bringing Wall Street to Main Street.
00:03A deep freeze continued to grip the U.S. as the worst storm of the season began to wind down,
00:08according to Bloomberg. The deep freeze pushed the country's largest electric grid
00:12into emergency status as winter power demand surged to record levels.
00:18PJM Interconnection issued a Level 1 grid emergency for Tuesday
00:21and warned electricity demand would exceed 147 gigawatts, the highest winter level on record.
00:29Freezing temperatures disrupted travel, caused widespread power outages,
00:32and knocked out about 12% of U.S. natural gas production, tightening fuel supplies.
00:38Power prices surged, with day-ahead electricity prices for Tuesday topping $2,300 per megawatt hour.
00:46PJM warned prolonged cold could strain power plants and fuel availability,
00:51raising the risk of blackouts as frigid conditions persist.
00:54For all things money, visit Benzinga.com.
00:58PJM Interconnection
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