Texas Power Prices and Demand Soar Amid Record Heat Wave
TL;DR Summary
Texas power prices doubled on Tuesday as a heat wave broke records and sent demand for cooling soaring, with prices reaching about $5,000 per megawatt-hour. The Electric Reliability Council of Texas (ERCOT) predicts that Wednesday will see a new record high for power use, which should exceed the current all-time high set in July 2022. The heat wave is expected to continue toppling records next week, with demand reaching 82,080 MW on Monday and 83,555 MW on June 28.
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