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Electricity Demand Surge Predicted
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Overview
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PJM Interconnection anticipates a substantial increase in electricity demand due to electric vehicle and industry electrification, necessitating the maintenance and development of sufficient generation resources. The grid operator expects a load of 151,254 MW and 134,663 MW for the 2024 summer and winter respectively, with annual growth rates of 1.7% and 2% respectively. Additionally, PJM plans to clear 300 new power generation projects totaling 26,000 MW in 2024, with an additional 46,000 MW of projects ready for construction by mid-2025.
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How might the surge in electricity demand impact the energy market and the environment?
What are the potential implications of the settlement between PJM and the over 80 parties in relation to grid operations and future outages?
What measures can be taken to ensure a smooth transition towards the increased electricity demand while minimizing the risks of outages?
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