The warning is in place from 1pm on Tuesday until midnight.
Temperatures are predicted to remain high throughout the day though, with highs of between 27C and 28C between 2pm and 7pm.
Peterborough is still recovering from the effects of dramatic rainfall earlier this month (July 9) which left many homes and businesses damaged.
While it is unlikely to be as bad at that again, a yellow weather warning states that: “Flooding of homes and businesses could happen quickly, with damage to some buildings from floodwater, lightning strikes, hail or strong winds
“Spray and sudden flooding could lead to difficult driving conditions and some road closures
“Where flooding or lightning strikes occur, there is a chance of delays and some cancellations to train and bus services
“Power cuts might occur and other services to some homes and businesses could be lost.”