May 17 (Reuters) - The New York Independent System Operator (NYISO) said on Friday electricity supplies are sufficient to meet expected summer demand this year under baseline conditions, but reliability concerns remain.

Some 40,733 megawatts (MW) of power resources are ready to meet expected peak demand, which is projected to be 33,301 MW, the company said in a statement.

During the summer of 2023, the peak demand was 30,206 MW. In July 2013, New York experienced its highest peak of 33,956 MW following a week-long heatwave.

Peak demand represents the average total electricity consumption by consumers within an hour. One megawatt of electricity can serve about 800-1,000 homes.

Since last summer, the grid has deactivated four generating units, totaling 59 MW in capacity and added 12 new generating units, all of which are clean energy sources, with a combined capacity of 452 MW, the statement added.

The Comprehensive Reliability Plan conducted by NYISO has assessed the grid's reliability until 2032, revealing a continual reduction in reliability margins statewide.

Considering various factors such as unavailable generation and operating reserve needs, the reliability margin stands at 752 MW under standard conditions.

However, during extreme weather conditions, reliability margins are expected to fall short.

Separately, the New York State Public Service Commission (NYPSC) said average electricity prices for full-service residential customers are expected to be lower than last year, depending on location, demand and market prices.

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https://www.reuters.com/business/energy/new-yorks-electric-grid-prepped-summer-demand-flags-reliability-concerns-2024-05-17/