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

Texas power prices soar 20,000% as brutal heat wave sets off emergency::On Wednesday evening, spot electricity prices topped $5,000 per megawatt-hour, up more than 200 times from Wednesday morning.

  • p_q@lemmy.worldEnglish
    225·
    1 year ago

    so it’s a publicly traded commodity. are there texasmegawatts or what? are there less texasmegawatts then before? because if not, this is how it works. they gain capital, can cheaper lend capital, buy efficient texasmegawattsfacilities.

    • body_by_make@lemmy.dbzer0.comEnglish
      10·
      1 year ago

      Because Texas refuses to connect its grid to the federal grid, yes, there’s effectively texasmegawatts, and they’re fucking expensive right now because the governor keeps refusing to let the power companies properly prepare for devastating weather.