Energy
Deep Freeze More Than Doubled Power Costs on Biggest US Grid
Ice floes cover part of the Hudson River along the Manhattan shoreline in New York on Feb. 9.
Photographer: Spencer Platt/Getty ImagesElectricity costs on the largest US grid more than doubled in January as a deep freeze drove up heating demand and operators shored up supplies to keep the lights on.
Total wholesale power costs on the grid operated by PJM Interconnection LLC, which serves about a fifth of Americans, jumped to $15.38 billion in the first month of the year, up from $7.34 billion in January 2025, according to Joe Bowring, president of the system’s independent watchdog, Monitoring Analytics LLC.