“Let me get this straight – you nearly killed millions of Texans…”
With a cold front moving through the Lone Star state some generation units were already down for repair work. Bloomberg reports one spot price for Texas power jumped as much as 10,000% on Tuesday. In particular, the average spot on-peak electricity at Ercot’s North Hub jumped more than 10,000% to $1,975.96 a megawatt-hour as of 4 p.m, according to grid data compiled by Genscape. Prices are capped at $2,000 a megawatt hour, after regulators suspended the previous $9,000 cap following the energy crisis.