Increase in the price of energy by up to 10,000 percent in Texas. The energy mess is repeated
Texas power grid operator, the Electric Reliability Council of Texas (ERCOT), which came under enormous pressure months ago for mishandling the historic winter storm in mid-February, urged customers Tuesday afternoon to "reduce their electricity consumption ”as a cold front has spread, causing a spike in energy demand.
ERCOT told customers to “save energy right now. Consumers and companies are invited to reduce their electricity consumption this afternoon and into the evening ”. All to avoid a colossal disaster like the one that happened two months ago, with dozens of deaths from the cold and massive blackouts.
The Texas power grid operator also said:
“Due to a combination of high voltage outages typical of April and higher than expected demand caused by a stalled cold front on TX, ERCOT could enter emergency conditions.
ERCOT is requesting energy conservation at this time. Consumers and businesses are urged to reduce their electricity use this afternoon and into the evening.
– ERCOT (@ERCOT_ISO) April 13, 2021
With a cold front moving through the lone star state, some power plants were already out of order for repair work. Bloomberg reports that a spot price for Texas power rose as much as 10,000% on Tuesday.
Notably, average peak spot electricity at Ercot's North Hub jumped more than 10,000% to $ 1,975.96 per megawatt hour at 4pm, according to network data compiled by Genscape. Prices are capped at $ 2,000 megawatt-hours, after regulators suspended the previous $ 9,000 cap following the energy crisis. However, many people and companies will have bad surprises. The gift of choosing a free energy system and not tied to costs and investments.
So far, “We don't expect customer interruptions. Declaring an emergency would allow us to access additional resources, ”said ERCOT, although he requested energy savings.
The internet was not thrilled by ERCOT's network warning today:
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The article Increase in the price of energy by up to 10 thousand percent in Texas. The energy mess is repeated comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/aumento-del-prezzo-anche-del-10-mila-in-texas-si-ripete-il-pasticcio-energetico/ on Wed, 14 Apr 2021 19:42:06 +0000.