Texans power prices surged 80% in a matter of hours amid shrinking spare electricity supplies as searing heat puts the state’s grid to the test.
A megawatt-hour of power was commanding $4,500 as of late afternoon Tuesday, up from $2,500 earlier in the day, according to The Electric Reliability Council of Texas. The grid manager called for voluntary conservation efforts in an effort to avoid entering emergency conditions that could entail blackouts, Chief Executive Officer Pablo Vegas said during a board meeting.
