Record heat could be windfall for utilities

The intense heat wave sweeping much of the country is pushing electricity demand to new records — a situation that is stressing the power grid but which also could spur a revenue windfall for some power generators and utilities.

Little more than a month into summer, new benchmarks for daily electricity use already have been set in Atlanta, Cincinnati, New York, Chicago and Los Angeles, among other cities. New York set a new record yesterday of 32,075 megawatts, breaking the previous high set just last week. The 13-state Mid-Atlantic region, with 51 million residents, also set a new mark.

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