{"id":60268,"date":"2021-04-14T10:16:45","date_gmt":"2021-04-14T14:16:45","guid":{"rendered":"http:\/\/stateofthenation.co\/?p=60268"},"modified":"2021-04-14T10:58:33","modified_gmt":"2021-04-14T14:58:33","slug":"new-power-crisis-being-deliberately-engineered-in-texas-prices-skyrocket-over-10000","status":"publish","type":"post","link":"http:\/\/stateofthenation.co\/?p=60268","title":{"rendered":"New Energy Crisis Being Deliberately Engineered in Texas—Prices Skyrocket Over 10,000%"},"content":{"rendered":"

Texas Faces New Power Crisis: Prices Soar 10,000% As ERCOT Urges Power Conservation Amid Grid ‘Emergency’<\/h1>\n

ZeroHedge.com<\/p>\n

Texas’ power grid operator, Electric Reliability Council of Texas (ERCOT), which came under immense pressure months ago for\u00a0mishandling<\/a>\u00a0the historic winter storm in mid-February, urged customers Tuesday afternoon to “reduce their electricity use” as a cold front swept\u00a0through, causing power demand to spike.<\/p>\n

ERCOT told customers to please “conserve energy at this time<\/a>. Consumers and businesses are urged to reduce their electricity use this afternoon and into the evening.”<\/p>\n

Texas’ power grid operator also\u00a0said<\/a>:<\/p>\n

“Due to a combination of high gen outages typical in April & higher-than-forecasted demand caused by a stalled cold front over TX, ERCOT may enter emergency conditions.\u00a0<\/em><\/p><\/blockquote>\n

With a cold front moving through the Lone Star state some generation units were already down for repair work.\u00a0Bloomberg<\/a>\u00a0reports one spot price for Texas power jumped as much as 10,000% on Tuesday.<\/p>\n

In particular, the average spot on-peak electricity at Ercot\u2019s\u00a0North Hub\u00a0jumped more than 10,000% to $1,975.96 a megawatt-hour as of 4 p.m, according to grid data compiled by Genscape.\u00a0Prices are capped at $2,000 a megawatt hour, after regulators suspended the previous $9,000 cap following the energy crisis.<\/strong><\/p>\n

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The grid\u00a0has seen tight supply conditions as below-average temperatures pour into the state this week.<\/p>\n

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So far, “We do not expect customer outages. Declaring an emergency would allow us to access additional resources,” ERCOT said, although it requested energy conservation.\u00a0<\/em><\/p>\n