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Alistair_Heaton
Mechanical
- Nov 4, 2018
- 9,476
That's a lot of capacity that's been lost. Must admit being Aberdonian we always associate Texas with hot and humid... Not snow storms.
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The wholesale price of electricity is set by the grid operator, ERCOT, and can change every five minutes depending on supply and demand. When there is excess energy on the gird, prices drop and can even go negative, which means you are getting paid to use electricity (awesome!). And when demand is high like on hot summer days or winter storms, prices can spike. The highest the price can go to is $9/kWh (which has only ever happened 0.005% of the time.) Most of the time though, 96.9% to be exact, it is below the Texas Average of 6.8¢/kWh
Current price 1.4c/kWh