Queue the Fireworks: PJM is About to Set an All-time Record

On July 2, 2026, Day Ahead prices cleared north of $2,000/MWh in PJM, with NYISO and MISO both posting four-digit prints of their own as a dome of heat settles over the eastern half of the country. PJM has stacked nearly every tool in its emergency playbook for today and tomorrow: a Hot Weather Alert, a Maximum Generation Emergency/Load Management Alert, Heavy Load Voltage Schedule Action, a Maintenance Outage Recall, and most notably, a request for two emergency 202(c) orders from the U.S. Department of Energy.