|
Texas' surging population growth in recent years and its status
as a hub for some of the most energy-intensive industries,
including data centers and cryptocurrency mining, have ramped up
power demand and increased stress on its vulnerable electrical
grid.
After breaking peak-demand records several times in April and
May, Texas peak power demand reached a preliminary 85,558.98
megawatts (MW) on Tuesday, which topped the previous record of
85,508 MW set on Aug. 10, 2023, according to the Electric
Reliability Council of Texas.
The council, which operates most of the grid for 27 million
customers, said it expected demand would ease to 85,921 MW on
Wednesday.
The grid operator also said the power network was operating
normally, with enough supply available to meet expected demand.
One megawatt can power 800 homes on a normal day but as few as
250 on a hot summer day in Texas, when homes and businesses turn
up air conditioners.
Temperatures in Houston, the state's biggest city, were expected
to reach 103 degrees Fahrenheit (39 degrees Celsius) on Tuesday
before easing to 100 F (38 C) on Wednesday, according to
AccuWeather meteorologists.
That compares with a normal high of 95 F (35 C) for this time of
year.
Next-day power prices at the ERCOT North Hub, which includes
Dallas, jumped about 157% to a two-week high of around $102 per
megawatt hour for Tuesday, according to LSEG pricing data.
That compares with an average of $57 per MWh so far in August,
and $33 so far this year, $80 in 2023 and $66 from 2018 to
2022).
Real-time prices soared to almost $1,600 per MWh during one
15-minute interval around 6 p.m. on Monday, according to the
grid operator's website.
(Reporting by Scott DiSavino and Anjana Anil; editing by Laila
Kearney, Jonathan Oatis and Cynthia Osterman)
[© 2024 Thomson Reuters. All
rights reserved.]
Copyright 2022 Reuters. All rights reserved. This material may
not be published, broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
