Intense heat up and down the East Coast has air conditioning cranking and power generators pushing it to the limit. With electricity demand in places like New York City flirting with all-time highs, power prices are reaching staggering levels.

“System demand in New York is expected to top out today at 99% of its all-time peak,” according the EIA, which also reports power prices on New York’s Long Island roughly 1000% percent higher than normal, in some cases.

“Day-ahead prices for certain peak hours reached above $150/MWh [megawatt hour] in New England, above $250/MWh in New York City and PJM West, and above $300/MWh in Long Island. Usual prices for these areas are $30-$60/MWh,” said the government agency in an Energy Market Alert released today.

When power demand peaks to these levels and generators push equipment towards maximum capacity, it strains the transmission system or power grid, greatly increasing the risk of a power failure. In an effort to avoid that outcome, the New York Power Authority yesterday “activated a program to reduce electricity use at public-facility locations in New York City in response to anticipated higher energy demand due to the hot weather.”

A recent NYPA Tweet:

NYPA power program helps as NYC power demand climbs toward 2-year high http://bloom.bg/17llvOe  via @BloomBergNews

Read the full EIA report here: