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

  • 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.

  • SCB@lemmy.world
    22·
    1 year ago

    In all fairness, Texas has an incredibly weird, idealistic, view of the value of market forces and their government utterly fails in its job as a result.

    It’s not just power lines. It’s everything. They distort their market on ideological lines and then assume that’s the best case.