Texas electric prices are rising with a cold front test grid | Powerful News

Demand for the grid operated by the Texas Electric Reliability Council is expected to rise to 71,806 megawatts on February 4th.

Electricity prices in Texas rose to more than $ 1,000 per hour megawatts on Friday as demand is expected to hit the winter record on the biggest test as freezing temperatures and power outages killed hundreds nearly a year ago.

Demand for a grid run by the Electric Reliability Council of Texas, or Ercot, is expected to reach 71,806 megawatts on the morning of Feb. 4, a level that has never been seen outside of the summer season before. In February 2021, interest rates were on the verge of a catastrophic rise before the second largest blackout in the US for days.

Remembering the crisis is causing panic in the coming days, with freezing temperatures expected to descend in Texas, according to a number of traders. Ercot’s North Hub power base, which includes Dallas, closed at $ 800 on Feb. 4 on the Intercontinental Exchange after $ 1,000 on trading Monday, traders said. In comparison, Wednesday’s power lasted $ 60 and Thursday’s $ 560, the retailer said.

Hurricane storms expected to sweep through the U.S. have left nearly two-thirds of Texas under the winter watch and weather forecast, with temperatures expected to drop from 60s Fahrenheit (20 Celsius) Tuesday to 14 degrees in Dallas. Thursday night is 10 in Midland. Greater Texas area, including Dallas and Fort Worth, is expected to find a mix of ice and snow, the National Weather Service said.

“This is the coolest event so far in winter, but not the coldest winter in which the winter is over,” said Matt Rogers, president of the Commodity Weather Group.

However, the Lone Star is still facing challenges this weekend such as the installation of turbines and hail and hail that could impede solar emissions, Rogers said. All temperatures can run about 25 to 30 degrees Fahrenheit[25 to 30 ° C]in some places, although the cold lasts only two or three days, while the previous year has taken longer.

“Dallas should drop to 13 Fahrenheit, which is well underway, but not last year’s -2 Fahrenheit,” Rogers said.