Keep pulling the thread on New York.
Power prices are surging from New York to Virginia due to a sweltering heat wave that threatens to overwhelm U.S. grids.
Wholesale power prices in the PJM Interconnection grid, which serves the Mid-Atlantic, reached nearly $2,000 per megawatt-hour as temperatures climbed.
The Dominion Energy portion of the PJM grid, which serves Northern Virginia's Data Center Alley, is operating under a low-level grid emergency due to high power demand.
The U.S. Department of Energy has authorized the PJM Interconnection grid to maximize power generation and bypass some emissions and environmental standards to meet demand during the heat wave.
The U.S. domestic cattle herd has shrunk to its lowest level in 75 years, causing a surge in ground beef prices.
A recovery in the U.S. cattle herd and subsequent relief in beef prices is not expected until 2027.
Sky Zone's four-wall profit margin profile is in the high 30s to low 40% range.
Con Edison has asked approximately 89,000 customers in areas including the Bronx and City Island to reduce power consumption to alleviate stress on the electrical grid.
New York City officials have declared a heat emergency, advising homes and businesses to set their cooling systems to 78 degrees.
The PJM Interconnection grid is approaching an all-time record for electricity demand.
According to the Wells Fargo Agri-Food Institute, the cost for a summer barbecue for 10 people is approximately $161, a 2.4% increase from the previous year.
The price of ground beef has increased by approximately 14% year-over-year.