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Texas power prices soar 20,000% as brutal heat wave sets off emergency (markets.businessinsider.com)

submitted 2 years ago by MicroWave@lemmy.world to c/news@lemmy.world

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Texas power prices soared 20,000% Wednesday evening amid another brutal heat wave.
Spot electricity prices topped $5,000 per megawatt-hour, up more than 200 times from Wednesday morning.
The state's grid operator issued its second-highest energy emergency, then later said conditions returned to normal.

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[–] Honytawk@lemmy.zip 27 points 2 years ago (1 child)

Wasn't the whole point in investing in oil in Texas to keep the energy prices low?

How is that working out for em?

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[–] NightAuthor@lemmy.world 32 points 2 years ago (1 child)

Actually, pretty well 99.9% of the time. And if a few people die here or there in a freeze or heatwave, well they shoulda use some of those electricity savings on a generator or something.

^ How the conservatives in Texas feel about the situation

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