Weekly Price Recap: 2/24-3/2
Last week our members averaged 8.5 ₵/kWh while the average Texan paid 11.4 ₵/kWh – 34% higher! There were two price spikes last week. The first occurred at 9:00pm on Wednesday when several gas-fired plants ramped down for the evening, leaving the grid briefly undersupplied and sending prices up to 75 ₵/kWh. That one lasted only 5 minutes before other gas-fired plants ramped up to meet demand. The second spike occurred Thursday morning at 6:35am when freezing temperatures led to high early morning heating usage. Prices spiked for 10 minutes, getting as high as 75 ₵/kWh before gas-fired plants caught up with demand and brought prices back down.