Texas has set a new record for winter power demand in the wake of a record-breaking cold snap that gripped the state on Tuesday night, according to the Electric Reliability Council of Texas, which oversees 90 percent of the state’s grid.
Power demand peaked between 7 a.m. and 8 a.m. Wednesday at 65,731 megawatts — shattering the record of 62,855 megawatts hit earlier this month when another cold snap hit the state. In a news release, ERCOT said the state had sufficient power resources available to meet demand.
The spike in demand also affected wholesale power prices, which hit around $200 per megawatt hour across the state, according to ERCOT.
The average wholesale price of power, which changes by the minute every day, is typically $25 per megawatt-hour. By 9:30 a.m., prices had dropped down to around $100 per megawatt-hour, except in South Texas.
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