{"id":68018,"date":"2024-05-11T17:02:34","date_gmt":"2024-05-11T22:02:34","guid":{"rendered":"https:\/\/olduvai.ca\/?p=68018"},"modified":"2024-05-11T17:02:34","modified_gmt":"2024-05-11T22:02:34","slug":"texas-spot-power-prices-jump-almost-100-fold-on-tight-supply","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=68018","title":{"rendered":"Texas Spot Power Prices Jump Almost 100-Fold on Tight Supply"},"content":{"rendered":"
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Texas Spot Power Prices Jump Almost 100-Fold on Tight Supply<\/a><\/h3>\n<\/div>\n<\/header>\n
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(Bloomberg) — Texas electricity prices soared almost 100-fold as a high number of power-plant outages raised concerns of a potential evening shortfall.<\/p>\n

Spot prices at the North Hub, which includes Dallas, jumped to more than $3,000 a megawatt-hour just before 7 p.m. local time, versus about $32 at the same time Tuesday, according to data from the Electric Reliability Council of Texas.<\/p>\n

This morning, Ercot, as the state\u2019s main grid operator is known, issued a \u201cwatch\u201d for a potential capacity reserve shortage from about 7-9 p.m., meaning the buffer of spare supplies could fall to low enough levels to call on back-up generation, cancel or delay outages or curb usage.<\/p>\n

The conditions are the tightest of the year so far and raises the risk of prices rising to the $5,000 cap \u2014 which they last did on April 16, when Ercot also warned of a potential shortfall. Unusually hot weather in the region has boosted demand for cooling and lowered the efficiency of many power plants. Wind output has also fallen from a day earlier and there are more outages.<\/p>\n

\u201cErcot has not called for conservation this evening,\u201d it said by email. \u201cThe grid is operating under normal conditions at this time.\u201d<\/p>\n

The high prices may force big consumers, including Bitcoin miners, to curtail their operations for a few hours. Batteries are also expected to ramp up to keep the grid stable.<\/p>\n

The impact on consumers will depend on their retail contract, with the state requiring households to pick a third-party supplier and decide ahead of time if they want to lock in prices for a month or even years. Retailers have been prohibited from fully exposing residential consumers to wholesale prices since February 2021.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Texas Spot Power Prices Jump Almost 100-Fold on Tight Supply (Bloomberg) — Texas electricity prices soared almost 100-fold as a high number of power-plant outages raised concerns of a potential evening shortfall. Spot prices at the North Hub, which includes Dallas, jumped to more than $3,000 a megawatt-hour just before 7 p.m. local time, versus […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[1103,34532,34534,2063,34533],"class_list":["post-68018","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-electricity","tag-naureen-s-malik","tag-spot-prices","tag-texas","tag-yahoo-finanace"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68018"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68018\/revisions"}],"predecessor-version":[{"id":68020,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68018\/revisions\/68020"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}