Griddy Lowdown: August
Griddy members had another great month in August.
The average Griddy member rate was 9.3 ¢/kWh. Based on EIA data, the average Texas residential customer pays about 12 ¢/kWh. That’s about 30% higher than our members!
For the hours before 2pm and after 5pm, the average wholesale rate for electricity was less than 2 ¢/kWh and the average hourly renewable generation content was over 20%!
Between 2pm and 5pm, the wholesale price averaged about 11¢/kWh and the average renewable percentage dropped to about 13%.
Members in the AEP Central service territory paid slightly higher rates, with prices averaging about 3¢/kWh before 2pm and after 5pm and about 20¢/kWh between 2pm and 5pm, as maintenance work on the transmission lines caused some local price spikes.
Thankfully, we are through the worst of the summer heat now!