Spot electricity prices in Texas rose more than 60 fold, approaching the $5,000 limit, as the state’s power grid is facing the tightest power supply conditions all summer.
The intense heat continues to scorch Texas, causing demand for electricity to skyrocket and homes and businesses to turn on their air conditioners.
Despite the fact that electricity consumption has reached record highs about a dozen times since the beginning of June, the Texas power grid has for the most part shown no signs of operational stress yet.
The main reason for this is the increase in solar generation capacity compared to last summer, and evening increases in wind generation often offset daytime declines in solar generation.
The most stressful conditions on the grid often occur after sunset, when electricity demand is still high and solar power is off.