Texas power prices soar 20,000% as brutal heat wave sets off emergency

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Texas power prices soar 20,000% as brutal heat wave sets off emergency

https://markets.businessinsider.com/news/commodities/texas-power-prices-20000-percent-heat-wave-ercot-grid-emergency-2023-9

On Wednesday evening, spot electricity prices topped $5,000 per megawatt-hour, up more than 200 times from Wednesday morning.

Texas power prices soar 20,000% as brutal heat wave sets off emergency
  • Texas power prices soared 20,000% Wednesday evening amid another brutal heat wave.

  • Spot electricity prices topped $5,000 per megawatt-hour, up more than 200 times from Wednesday morning.

  • The state's grid operator issued its second-highest energy emergency, then later said conditions returned to normal.