Texas: shatters record for winter power demand.
Texas has set a new record for winter power demand in the wake of a record-breaking cold snap that gripped the state on Tuesday night, according to the Electric Reliability Council of Texas, which oversees 90 percent of the state's grid.Don't cry for Texas at $200/MWh. Those in New England are paying $500/MWh, and those in South Australia are paying $10,000/MWh (no typo). [Update: this was how bad it was last week in South Australia -- in two days they burned more money on electricity costs than it would have cost to build a new natural-gas fired plant.]
Power demand peaked between 7 a.m. and 8 a.m. Wednesday at 65,731 megawatts -- shattering the record of 62,855 megawatts hit earlier this month when another cold snap hit the state. In a news release, ERCOT said the state had sufficient power resources available to meet demand.
The spike in demand also affected wholesale power prices, which hit around $200 per megawatt hour across the state, according to ERCOT. The average wholesale price of power, which changes by the minute every day, is typically $25 per megawatt-hour. By 9:30 a.m., prices had dropped down to around $100 per megawatt-hour, except in South Texas.
Our electricity bill here in the DFW area in December, 2017, was about 4X our normal monthly payment. 4x.