Weekly Price Recap: 6/16-6/22
BEST WEEK EVER!
It seems like not that long ago we were celebrating our best Griddy week ever with a crazy low weekly rate of 7.6c/kWh.
Well, this week we destroyed that number with a new record low: 7.3c/kWh! Meanwhile, the average electricity customer in Texas paid 11.5¢/kWh, that’s a whopping 58% higher! Don’t you feel sorry for them?
We had a single five-minute price spike this week onWednesday evening when some gas-fired plants started to ramp down before others had a chance to ramp up, causing a brief undersupply on the grid. The price spiked to between 50 cents and just over $1 (depending on which part of the state you’re in). But the market quickly corrected and five minutes later, prices were back to normal.