HomeTop StoriesPower consumption in Texas hits another all-time high during a heat wave

Power consumption in Texas hits another all-time high during a heat wave

(Reuters) – Power demand in Texas hit an all-time high on Monday for the eighth time this summer as homes and businesses turned on air conditioners to escape an ongoing heat wave.

The Electric Reliability Council of Texas (ERCOT), which operates the grid for more than 26 million customers representing about 90% of the state’s power load, said it has sufficient resources to meet rising demand.

Texas residents have been concerned about extreme weather since a deadly storm in February 2021 left millions without power, water and heat for days as ERCOT struggled to avoid a power grid collapse.

After recording 11 new peaks in demand last summer, ERCOT said usage hit a preliminary 83,854 megawatts (MW), surpassing the most recent record of 83,593 MW on Aug. 1.

Rising economic growth and population growth have boosted electricity consumption in Sun Belt states such as Texas, although overall U.S. power demand is expected to decline in 2023 after hitting an all-time high in 2022.

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According to the ERCOT website, prices in the real-time market briefly fluctuated between $1,000 and $2,000 per MWh.

(Reporting by Ashitha Shivaprasad in Bengaluru; editing by Jacqueline Wong)

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