Weekly Price Recap: 3/24-3/30
Last week, our members averaged 8.5 ₵/kWh while the average Texan paid 11.6 ₵/kWh– that’s 37% higher!!! There were 4 price spikes this week, all of them between7 and 8pm on Sunday night. They were caused by a sharp drop-off in wind generation at the time of the day with the highest usage. But as always, gas-fired plants ramped up in response to the high price and quickly brought things back in to balance.
While we had 4 price spikes that lasted a total of 25minutes, we also had a ton of negative pricing last week. That’s right, prices were below zero for about 2.5 hours in Houston and South Texas, for 3.5 hours in Dallas, and for a whopping 34 hours out in West Texas!