PJM Load Forecast Update | February 2024 | Energy Watch Blog
February 21st, 2024 | Blog Post | energy-watch
ESAI Power’s latest Energy Watch briefing provides subscribers with a full update PJM’s 2024 Load forecast report. Earlier this month, PJM Published its revised 2024 Load Report. ESAI’s latest Energy Watch briefing includes analysis of:
- Delta between 2023 and 2024 PJM Load forecasts – ESAI clearly lays out a comparison of PJM’s 2024 Report with the 2023 Load Forecast for Peak Load and Net Energy.
- Highlight Changes in the 15-year CAGR Rates for each PJM Zone.
- Implications for PJM’s Capacity Market – both in the upcoming capacity auction (BRA 2025/26) and in the long term.
- Overview of PJM Transmission Upgrades that help address data center load growth.
- Forecast Methodology – ESAI’s view on the updates that PJM has made to their load forecast methodology.
Note that ESAI also closely tracks the PJM Supply Stack out to 2034 in our Generation Asset Monitor report issued to subscribers every month.
ESAI Power continuously monitors and analyzes the Capacity, Power and natural gas markets in PJM, New York and New England. Our ongoing assessments include reviews of market conditions, granular forecasts of pool-wide and zonal energy pricing, fuel input forecasts, policy changes, and how these may impact energy prices and generator spark spreads looking forward. To learn more about our coverage or request free trial access, please go to our Energy Watch product page.
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ESAI Power evaluates Renewable Energy issues, markets and trends in the PJM, New York, and New England market footprints. Coverage includes solar, onshore and offshore wind, hydroelectric, and storage. For each region, ESAI Power details the regulatory and market factors that impact the supply and demand balance for Class I Renewable Energy Credits (RECs) and projects the supply and demand balance of Class I RECs through 2030.
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Energy WatchTM is a quarterly analysis of market and policy issues affecting energy pricing dynamics over the next 10-year period for both the power and natural gas sectors. This analysis includes forecasts of pool-wide and zonal energy prices in New England, New York, and PJM, including forecasts of fuel inputs. Supporting assumptions are provided in each quarterly report. Forecast data is provided in spreadsheet format, which includes monthly on-peak, off-peak, and 7×24 zonal power prices, along with delivered natural gas prices for most Northeast regional pricing points.
