California’s Independent System Operator declares a Level 2 grid emergency, warning of possible rotating blackouts after power reserves dropped below critical levels in a record-breaking heat wave.

Wildfires caused a generator and a solar farm to trip offline, says ISO, which runs most of the state’s grid.

Potentially relevant tickers include PCG, EIX, SRE.

The extreme heat is expected to push electricity demand even higher than the heat wave three weeks ago, which caused California’s first rolling blackouts since the 2001 energy crisis.

The ISO issues a statewide grid alert for Sunday, forecasting demand could top 49 GW, above the peak of 46.8 GW hit on Aug. 14 when the operator called for rotating outages.

Looking ahead later this week, PG&E warns it could shut off electricity on Tuesday and Wednesday in the San Francisco Bay Area and the Sierra Nevada foothills due to high fire risks.


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