Economy / FinanceRomeo Full Staff

Texas Power Prices Double as Record Heat Wave Sends Demand Soaring


Texas power prices jump 100% as record heat wave sends demand soaring Jason Ma Jun 21, 2023, 4:08 PM EDT Texas power prices soared 100% on Tuesday amid a massive heat wave that broke some records. The price shot up to about $5,000 per megawatt-hour from $2,500 earlier in the day. Temperatures topped 110 degrees in parts of Texas on Tuesday. Texas power prices doubled on Tuesday as record high temperatures in parts of the state sent demand for cooling soaring. By the evening, power cost about $5,000 per megawatt-hour, up from $2,500 earlier in the day, according to state…

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