Weekly Price Recap: 6/2-6/8
We had another wild week last week!
We had seven price spikes throughout the week, four of which happened Friday afternoon.
With all that being said, Griddy members still paid only 9.1¢ vs. the Texas average of 11.5¢ - 26% higher!
Friday’s four spikes, most of which only lasted for 5 minutes, were due to a combination of factors: 1) high demand; 2) lower than expected wind generation; and 3) several steam generation units in North Texas that did not run as expected despite the high prices. But as usual, gas-fired plants ramped up and brought prices back down to normal.