Record-Breaking Heatwave Sparks Blackouts Across The Pacific Northwest

The record-shattering heatwave in the U.S. Pacific Northwest has already caused the first rolling outages in Washington State, while California’s power system operator issued a heat warning that electricity supply could be tighter than normal. The heatwave is driving record demand for air conditioning and electricity, pushing power and natural gas prices higher. This week, U.S. natural gas prices jumped amid a tight natural gas market and expectations of high demand for electricity in hotter than usual weather in many parts of the United…