Breaking News
Black Friday SALE: Up to 54% off InvestingPro! Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Texas power demand to hit record high during heat this week

CommoditiesAug 23, 2021 02:40PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: An electrical substation is seen after winter weather caused electricity blackouts in Houston, Texas, U.S. February 20, 2021. REUTERS/Go Nakamura//File Photo

(Reuters) -The Texas power grid operator forecast demand would reach record highs on Monday and Tuesday as homes and businesses crank up their air conditioners to escape another heat wave.

The United States has been beset by extreme weather this year, including a freeze in Texas that knocked out power to millions in February and record heat in the Pacific Northwest this summer.

Temperatures in Houston, the biggest city in Texas by population, will reach the upper 90s Fahrenheit (35 Celsius) every day from Aug. 22-25, according to AccuWeather. That compares with a normal high in the city of 95 F (35 C) at this time of year.

The Electric Reliability Council of Texas (ERCOT), which operates most of the state's grid, projected power use would reach 75,107 megawatts (MW) on Monday and 75,692 MW on Tuesday.Monday's forecast is a little lower than ERCOT projected in the morning, but would still top the grid's all-time high of 74,820 MW set in August 2019.

One megawatt can power around 200 homes on a hot summer day.

So far on Monday, ERCOT said the grid was operating normally with over 76,500 MW of supply available to meet current demand.

Extreme weather reminds Texans of the February freeze that left millions without power, water and heat for days during a deadly storm as ERCOT scrambled to prevent a grid collapse after an unusually large amount of generation was shut.

Despite the heat, real-time power prices in ERCOT had only reached the $30s per megawatt hour (MWh) so far on Monday.

That is well below the $188/MWh average seen so far in 2021 at the ERCOT North hub, which includes Dallas, due primarily to price spikes over $8,000 during the February freeze, and compares with an average of $26 in 2020 and a five-year (2016-2020) average of $33.

Texas power demand to hit record high during heat this week
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
joe balone
joe balone Aug 23, 2021 6:46PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
They fail to mention the population is spiking as well in Texas. More people more usage.
William Torpey
William Torpey Aug 23, 2021 3:02PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Upper 90's in August and September is considered mild to the real Texans!
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email