"Texas Heatwave Sends Electricity Rates Soaring"

Electricity rates in Texas have surged as the state experiences a heat wave, with demand for electricity reaching record levels. Prices rose from $275 per megawatt-hour on Saturday to $2,500 per megawatt-hour on Sunday, according to data from the Electric Reliability Council of Texas (ERCOT). The grid operator has issued a weather watch for higher temperatures, warning of heavier demand on the electrical grid. Texas relies heavily on natural gas for power, but solar power generation has increased significantly in recent years. The state's grid is not connected to the rest of the country, limiting options for importing power during shortages or failures.