Weekly Price Recap: 11/24-11/30
Griddy members had a great week last week paying 9.2¢/kWh vs. the Texas average of 11.6c/kWh, which is 25% higher!
We had 11 price spikes this week, two on Wednesday evening, two Thursday night, and 7 Friday morning. Out in West Texas, users experienced 36 price spikes. On the bright side, west Texas had a price below zero 73 times! Additionally, the price for the north/Houston load zone was below zero 38 times!
Colder than expected temperatures led to a large increase in heating demand on Wednesday evening, thus causing price spikes. On Thursday morning actual demand exceeded projected demand by over 3,000 MW and subpar wind generation caused prices to spike. On Friday morning wind generation was over 6,000 MW weaker than forecasted, and natural gas generation ramped down at an inopportune time which led to a series of price spikes.