North American wholesale power markets transitioned from the prior week’s extreme-heat stress to a more normalized but still summer-sensitive operating pattern during July 4-10. PJM’s emergency posture eased after record-level demand and elevated prices early in the period, while New York and New England continued to monitor reserve margins, weather-driven load, transmission availability, and real-time congestion. Across CAISO, ERCOT, SPP, and MISO, available operating reports did not identify a comparable system-wide emergency. Daily real-time peak prices generally followed the expected summer pattern: higher during late-afternoon load ramps and constrained intervals, lower overnight and during high-renewable periods, and more volatile where transmission limits or reserve conditions tightened.

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