Texas Power Prices Skyrocket to $5,000 per Megawatt-Hour Amid Heatwave, Forcing Grid Operator to Issue Emergency Alert

Texas power prices surged over 20,000% to $5,000 per megawatt-hour amid a brutal heat wave.
The state's grid operator, ERCOT, issued its second-highest emergency alert before later saying conditions returned to normal.
This follows other massive price spikes this summer during heatwaves in deregulated Texas market.
Gains in renewable energy like wind and solar have helped supply keep up with demand.
At ERCOT's request, Biden administration declared a power emergency in Texas, waiving some pollution rules.

businessinsider.com

Relevant topic timeline:

8/24/2023

Here’s why Texans keep getting told to raise their thermostats this summer

ERCOT, the power grid manager for Texas, has issued a weather watch due to high temperatures increasing electricity demand, although there is currently enough power to meet demand and the grid is not at risk of failure.

8/23/2023

Energy expert evaluates ERCOT and the Texas power grid amid record-breaking heat

Despite recent rainfall, the extremely dry and hot conditions in Texas have put a strain on the power grid, leading ERCOT and energy providers to ask Texans to conserve energy during peak hours.

9/1/2023

How ERCOT is narrowly getting through an extreme summer — and how exp…

The Texas power grid is facing increasing challenges to meet high electricity demand, with record-breaking heatwaves and strain on power sources, prompting calls for conservation and a rethink of power generation and usage.

9/7/2023

Texas grid back to 'normal conditions' after state's energy demand nearly surpassed supply

ERCOT's power grid in Texas returned to "normal conditions" after entering an "Energy Emergency Alert 2" and appealing for conservation due to high demand and low reserves.

9/7/2023

Texas grid paid firm to stop mining crypto during heatwave

Texas-based mining firm Riot Platforms received $31.7 million in energy credits from the state's grid operator for ceasing operations during a heatwave, which is worth three times more than the Bitcoin it actually mined in August.

9/7/2023

ERCOT calls for energy conservation Thursday after issuing Emergency Alert day before

ERCOT is calling for energy conservation in Texas due to high temperatures, low wind, and declining solar power generation, which is causing tight conditions on the power grid.

9/7/2023

Texas power emergency hinged on stranded wind farm supplies

Texas experienced a power crisis as a result of halting deliveries on a transmission system, leading to electricity supply shortages amid record heat and high consumer demand.

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Posted 9/8/2023, 7:00:00 PM

Texas Power Prices Skyrocket to $5,000 per Megawatt-Hour Amid Heatwave, Forcing Grid Operator to Issue Emergency Alert

Texas power prices surged over 20,000% to $5,000 per megawatt-hour amid a brutal heat wave.
The state's grid operator, ERCOT, issued its second-highest emergency alert before later saying conditions returned to normal.
This follows other massive price spikes this summer during heatwaves in deregulated Texas market.
Gains in renewable energy like wind and solar have helped supply keep up with demand.
At ERCOT's request, Biden administration declared a power emergency in Texas, waiving some pollution rules.

businessinsider.com

Relevant topic timeline:

8/24/2023

Here’s why Texans keep getting told to raise their thermostats this summer

8/23/2023

Energy expert evaluates ERCOT and the Texas power grid amid record-breaking heat

Despite recent rainfall, the extremely dry and hot conditions in Texas have put a strain on the power grid, leading ERCOT and energy providers to ask Texans to conserve energy during peak hours.

9/1/2023

How ERCOT is narrowly getting through an extreme summer — and how exp…

9/7/2023

Texas grid back to 'normal conditions' after state's energy demand nearly surpassed supply

ERCOT's power grid in Texas returned to "normal conditions" after entering an "Energy Emergency Alert 2" and appealing for conservation due to high demand and low reserves.

9/7/2023

Texas grid paid firm to stop mining crypto during heatwave

9/7/2023

ERCOT calls for energy conservation Thursday after issuing Emergency Alert day before

ERCOT is calling for energy conservation in Texas due to high temperatures, low wind, and declining solar power generation, which is causing tight conditions on the power grid.

9/7/2023

Texas power emergency hinged on stranded wind farm supplies

Texas experienced a power crisis as a result of halting deliveries on a transmission system, leading to electricity supply shortages amid record heat and high consumer demand.