Endless Heat-Wave in Texas Leads to Highest Power Costs Since State’s 2021 Deep Freeze

As parts of Texas baked under triple-digit temperatures, the cost of electricity surged to the highest prices since 2021’s deadly power crisis. 

The Electric Reliability Council of Texas (ERCOT) asked Texans to limit their power usage, in the afternoon and the evenings, to ease the pressure put on the grid by both increased demand and decreased power generation, WFAA reports.

While the power grid supported Texans during the day, as night falls the decrease in potential solar power and wind limit the available power sources, ERCOT explained on Twitter. 

On Friday, power prices had jumped to $1,599 per megawatt hour, in some parts of the state. This was a dramatic increase from Thursday, when power was $925 per megawatt hour, according to Reuters. 

This year, the average price of power per megawatt hour, in Texas, has been $85. This is an increase from a five-year average of $66 per megawatt hour, between 2018 and 2022, according to Reuters. 

The last time the Lone Star State faced power costs this high was in February 2021, when Texas was hit by several consecutive winter storms. The severe weather knocked out power for 4.5 million homes and businesses and left at least 246 people dead. 

At the height of the blackouts, power costs hovered at around $8000 per megawatt hour, for several days, Reuters reports.