Weekly Price Recap: 4/21-4/27
Last week was one of the wildest price spike weeks we’ve had in a long time, but our members still averaged only 9.1 ₵/kWh while the average Texan paid 11.6 ₵/kWh– that’s 28% higher!!! We had 12 price spikes this week: seven on Monday, three on Tuesday and two more on Thursday. Monday and Tuesday’s spikes were caused by a combination of four factors: 1) several plants coming offline for scheduled maintenance, including a large nuclear generator; 2) lower than expected wind generation;3) higher than expected air conditioning usage; and 4) a power plant unexpectedly tripping on Monday afternoon. But only one of those spikes lasted 15 minutes and the rest were over in 10 minutes or less as gas-fired generators ramped up to make up for any shortages on the grid. And this week depending on which part of the state you were in, you got between 6 and 8 hours of free and negative-priced electricity!